A client has a half share in a property portfolio, roughly valued at £1m. The original purchase cost was c£900k, therefore unrealised gain at present £100k. He is selling his share to partner for £200k. As this is below market value of actual current value I assume there will be zero gain, and the £200k paid will increase the base cost for remaining partner.
I feel like I'm missing something really obvious, so apologies in advance if being dumb.
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