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Bought a multi-unit in 2017, rent out one unit, live in the other. What is the "Original Purchase Price" if they were bought as one property and had never been separate?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Premier Windows

Best answer by Vanessa11_2

You will allocate the Purchase Price. If both sides are the same size and reasonably have the same value, then you can simply allocate 50% to each side. If one side is much larger or smaller or would reasonably have a large difference in value, then you would allocate the price accordingly.

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Vanessa11_2Answer

Employee

You will allocate the Purchase Price. If both sides are the same size and reasonably have the same value, then you can simply allocate 50% to each side. If one side is much larger or smaller or would reasonably have a large difference in value, then you would allocate the price accordingly.

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