GPBurdell
Level 1
07-31-2021
02:22 PM
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The land's original basis was allocated due to the intention to subdivide the land into 4 lots. Due to unforeseen circumstances, that never took place and the property is now being sold as one parcel. Expenses on the entire parcel had been taken for the entirety of the rental period due to the land never officially being subdivided. Expenses being only property taxes, which are minor at best for the unused portion of the land.