The adjusted basis of like-kind property given up, begins with what you paid for the property (your cost). You can then add to the cost basis any additional amounts to get the property ready for your intended use. For example, with real estate, if you purchased a home and then remodeled it, this cost would increase the basis.
If you've used the asset as a rental property or for business then you've taken depreciation expenses over the years, then these amounts reduce the basis (and are subtracted from the cost). The result is the adjusted basis.
The software calculates the tax amount for you. Otherwise, let me know what screen you are seeing this requested on.
