@mw29 No, I used the " new basis" which is calculated on 8582, line 25. I read multiple publications which convinced me I had been doing this wrong. This was a while ago now, but what I recall is that the new cost basis in the new property is essentially the adjusted basis from property given up plus acquisition cost of the new property. The "adjusted basis" is carried forward to the new property, the whole point of a 1031, but if you ever sell it will all be recaptured and you'll pay the tax man.
