when you fill out f8824, in the summary smart worksheet, you enter property received's contract price. since your transaction is simple, not involving any non-cash items received, you only need to provide contract price .
same is true for property given up, use the contract price . again, you mentioned a simple transaction no other items involved. so for that worksheet, there are only contract prices of sale and purchase. worksheet will not show 0, I think you mentioned purchase is about 20k less of sale... in worksheet where TT calculates Line 15, you can enter allowable expenses....
did you get mortgage on replacement after exchange or all part of exchange, if latter, you need to calculate. you should not get recaptured. you just enter all info asked in the worksheet, TT will calculate for you.
