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Author: Adam812 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121172  
Subject: Two Lots Purchased for 1 Price - Basis? Date: 12/31/2001 11:35 PM
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I purchased two single-family lots for one price without any stipulation as to individual value. I sold one lot and built a home on the other. The one lot sold for almost what I paid for both lots after 3 years. What restrictions are there in setting the basis value of the sold lot. I would like to defer the bulk of the capital gains tax burden to the time when I sell the other lot and home on it. Would this be possible. 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?
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