I see 2 ways to fill out these lines and am really confused by all the IRS Pubs, and directions.
I feel-- (1) Line 21 could be completed by using "cost" and disregarding the "other basis" option shown for that line, in which case one would disregard the adjusted basis reported on the 8824 form when property was acquired, and list ALL depreciation allowed on both the relinquished property plus taken since the exchange on line 22.
OR --(2) Use the adjusted basis from the 8824 on line 21 and disregard the "cost" option and on line 22 include only depreciation taken since the exchange.
Any specific guidance in Turbo Tax or IRS Pubs?
