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Get your taxes done using TurboTax
if the replacement property didn't cost more (and thus you didn't put cash/mortgage into the exchange to acquire property costing more than the sales price), then your basis for depreciating the replacement property would be zero
In short, the cost of the replacement property is reduced by the deferred gain for purposes of computing depreciation.
‎September 30, 2024
8:34 PM
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