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Can I record a "like kind" exchange from one asset to multiple assets Form 8824? I sold a rental asset and used gains to purchase both a rental and commercial property.
I sold a rental condominium and used the proceeds/gains to purchase both another rental condominium and a commercial building. The gains were sufficient to purchase both. I sold in August 2019, bought the new rental condo in October 2019, and the Commercial Building on February 2020. Thanks.
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‎April 5, 2020
8:51 PM