Investors & landlords

The answers to your questions are prepared in sequence to better assist you.

Replacement Property 1:

1. The following will show whether confirmed:
   1. Yes, you should apportion the original land value to all of the current properties.
   2. Your formula seems like an accurate apportionment for the land.
   3. Same as number 2. above.
   4. I concur with this because there is no building on this property.
   5. I would consider that part of the $118,000 is land for the oil & gas property since it was part of the trade.
   6. Same as number 6. above.
2. You will not be able to enter an asset for only land in the oil & gas property.  This will be a paper record until the day you sell it or trade it.
3. Mark each property as purchased and not traded.

Replacement Properties 2 & 3.

1. The following show whether confirmed:
   1. Correct - Apportion the original land value between all three properties
   2. Correct - The original building is apportioned between the buildings 2 & 3.
   3. Exception - See 5. above
   4. Exception - See 5. above 
      1. Once you decide a portion of the $118,000 is land you can use your formula to arrive at the amount for each property 1, 2, & 3. 
2. Yes, you are entering the buildings accurately in the asset section.