Quote:
Originally Posted by squiggs96
CHL is correct that you can split it, but you have to defend it. The easiest way is to just do a split based off the property tax and/or bank assessments. It's also in your benefit to split it, but some people aren't aware of this, and thus pay more taxes by not giving any to land.
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The Tax partner of the accounting firm where I work says put 10% as land and 90% as building when it is a condo unit.