I still don't understand how to calculate the excess basis amount.
Say I sold Property A for 200k, with 10k closing cost, and 90k mortgage to pay off. So I'm left with 100k which I used to purchase 2 like-kind properties one (Property B) for 150k and another (Property C) for 200k. Of the 100k left from selling Property A, 50k is allocated to purchase property B, and 50k is located to purchase property C. Property C and Property D each had a closing cost of 10k.
Does that mean my Excess Basis Amount for
Property B = 150k - 50k - 10k = 90k
Property C = 200k - 50k - 10k - 140k?
