We sold 2 rental properties and combined the proceeds into one new rental property. The new property costs more than the two that sold combined. Mortgage equal. So all that is covered.
Now to fill out the 8824.
Do I fill out 1 for each sold property? Or just do one and list each property relinquished, and then the property acquired? TT is not clear on this, and neither is the IRS. sigh.
Thanks all
