Lila and Maris decide to go into the psychic hotline business and form I C All, LLC.Lila used to operate a Credit Card Collections company and has a warehouse in Beaverton, Oregon with lots of phone lines in/out.She has a basis in the property, which she contributes to the LLC, of $600,000.It's worth about $1,000,000.Maris is a wealthy heir to CookieElf fortune and contributes $1,000,000 cash.In year 2, they decide that they should have known better and decide to move to the psychic hotspot of Lily Dale, New York.They sell the Beaverton property for $800,000.

How to allocating the gain/(loss) on sale of the property using traditional allocation method, traditional with curative allocation method, or remedial method.