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Level 4
April 27, 2025
Question

1250 property

  • April 27, 2025
  • 1 reply
  • 15 views

Taxpayer has a rental with building, land, kitchen remodeled, and HVAC replaced. Is this all 1250 property?

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1 reply

Level 15
April 27, 2025

Land - No.

Kitchen appliances - no.

The rest of it - probably.

bandb2Author
Level 4
April 27, 2025

Thanks. Q Can I do a bulk sale for building and land or must I treat them sepataely and allocate a part of selling price to land?

Level 15
April 27, 2025

Land is supposed to be reported separately.