Hello
So I sold a property back in June 2018 as a 1031 and bought multiple properties with the exchange
I sold one back in April 2021 at a loss, did a lot of improvements on the property. I tried to continue the sale as a 1031 exchange but it failed so i have the funds from the intermediary Now my question is how would I file that for my tax return.... As form 4797 or 8824 or other form.... I left a couple of details these are just examples of what it would look like.......
Contract sales price $260,000.00
After all the fees $262,520.00
Depreciation Amount $44,013
Sold for $302,000.00
Settlement Charges $17000.00
Improvements $28,000.00
Asssements paid on the unit (HOA & Repairs): 52,000
Now how would this be done as I lost a lot of money in just repairs.
Please let me know if theres a way to solve this issue
Thank You
