I got confused when entering the data into the section "different property received" of 8824 (Federal Taxes -> Business Items --> select "any additional like-kind exchanges", then step by step to the section "different property received", OR in the form mode: line L of first smart work sheet of 8824). Originally in the field "cash received", I entered the amount of the fund which went to my exchange account (which is proceeds from selling my old property). The amount basically is selling price - loan balance paid off at closing of the old property - closing cost. However this calculated a recognized gain amount and 0 deferred gains.
Then I started research why and found a site for instruction to fill out 8824. I followed their steps and calculated a much different recognized gain amount and positive deferred gain amount (which I think reasonable). This could be good research tool for whoever have trouble with 1031, Here is the link: https://www.1031.us/wp-content/uploads/Form8824Workbookfor2017.pdf
Because the field "cash received" in Turbotax plays a big role in calculating recognized gains, my question is: what exactly should I enter in this field? What is the meaning of the field "cash received"?
