GeorgeM777
Expert Alumni

Investors & landlords

Just one Form 8824.  Lines 19 - 25 will have your realized and recognized gain.  Your attached statement should have all of your information about your properties, addresses, dates of exchange, etc. including how you arrived at the information you entered on lines 19 - 25.  

 

California is different in that it requires a separate Form 3840 for each exchange.  Below is information about multi-property exchanges effected in CA that was obtained from the CA Franchise Tax Board website.

G. Multiple Exchanges

If the taxpayer reported more than one like-kind exchange for federal purposes in which the taxpayer gave up California property and acquired out of state like-kind property, file a separate form FTB 3840 for each such exchange.

H. Multiple Asset Exchanges

A multi-asset exchange involves the transfer and receipt of more than one group of like-kind properties. For example, an exchange of land, vehicles, and cash for land and vehicles is a multi-asset exchange. An exchange of land, vehicles, and cash for land only is not a multi-asset exchange. The transfer or receipt of multiple properties within one like-kind group is also a multi-asset exchange. Special rules apply when figuring the amount of gain recognized and basis in properties received in a multi-asset exchange. For details, see Treas. Reg. Section 1.1031(j)-1. For more information, see instructions for federal Form 8824, Like-Kind Exchanges.

Here is the link to the CA Like-Kind Exchange webpage.

 

CA Like-Kind Exchange

 

@jmail 

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