Investors & landlords

When you sell business property, you will be given an option to indicate that it is a like kind exchange i TurboTax:

You'll be asked to enter the adjusted basis of property given up, fair market value of property given up, and the value of any loans you gave up as part of the exchange. You'll also be asked for the fair market value of the property you received and any loans assumed. You'll also be asked to enter the amount of any cash you received, as well as the amount of sales expenses.

When finished, the basis of the acquired property with be the basis of the exchanged property, adjusted for any unrecognized gains or losses.