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 $45,000Yes. 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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