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Subject:  Re: Two Lots Purchased for 1 Price - Basis? Date:  1/1/2002  11:20 AM
Author:  pmarti Number:  56560 of 127613

In other words, if I paid $60,000 for two lots and sold one for $50,000, is there a problem setting the basis for the sold lot at say $45,000

Yes. Your basis allocation must be reasonable. For unimproved property, the standard is division by area. If there are unusual features about one lot, you could probably make some adjustments, but I doubt you could reasonably get to the division you propose.

Phil Marti
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