On form 8824 (like-kind exchanges), there is an entry for "Adjusted basis of Like-kind property"
TT has been tracking this through the years, but apparently provides no help completing this entry.
If I understand correctly, the Adjusted Basis would be:
AB = Purchase Price +Improvements - Depreciation ??
So I would just look to the "Depreciation & Amortization worksheet" report in TT to get the depreciation.
paid 300K
Improvement = 0
Depreciation = 80K
AB = 330K- 80K= 220K?
