A property was sold for appro $2,000,000 and 4 properties were purchased for $2,100,000. The 45 day test was met and used an intermediary used so never touched the cash. Additional $100,000 was needed to purchase the last property. Performed like kind exchange and the 8824 shows a deferred gain of approx $1,525,000 - which makes sense. But when the property is sold (within that specific rental infomation) - it calculates a capital gain of $1,522,000 and tax of $335,000. How can you have both a deferred gain which appears proper and a capital gain which does not (that can't can't be correct if a like kind exchange)? Must be entering something incorrectly somewhere?
