1031 exchange: which date do I enter for item 3 on the 8824, date originally acquired for my home that I lived in, then rented out?

[dkirklin]

Do I enter the date I actually purchased the home or the date I started renting it out (the date it actually became an investment property)?  I only lived in it for about a year, then moved due to military separation.

[GeoffreyG · Accepted solution]

For Form 8824 (Like Kind Exchanges, IRC Section 1031), Line 3, you should use the date on which you originally acquired (i.e., bought) the property in the first instance.  This should be the date of the purchase transaction recorded by your title company or attorney in the local county property records -- not the date upon which you later "converted" the property from a personal residence into a rental.

Thank you for asking about this clarification.