- Where do we enter Rents and Depreciating Assets for the new Like-Kind Acquired property?
- Create a new Property in (Rental and Royalty Summary) utilizing the Cost Basis calculated in Form 8824? or
- Enter a new Asset within the Relinquished Property in (Rental and Royalty Summary) using the form 8824 Cost Basis? (My problem with this option is that the properties are in different states. I would have to completely change the profile which will mess up my current state taxes.)
- Do we leave the Relinquished Property in (Rental and Royalty Summary) with each Asset having disposition date?
‎April 12, 2024
2:07 PM
