closing expenses on 1031 exchange

[MJSeid2020]

I have done a 1031 like kind exchange on an apartment building.  I am doing form 8824.  I bought another rental building.  I am still able to do the Schedule E on the sold building (up to the sale date).  Correct?

And I can do a Schedule E on the new building, correct?   There were income and expenses for it in 2024.  

Can I also take the extra taxes paid at closing as a deduction?  Will it go on Schedule e for the building sold?  And how about the extra expenses sent at closing such as 1031 legal fee expenses or other expenses?  I understand that the expenses usually get added to basis when you sell a building but I wasn't sure if I could take any of them now since there was a 1031 exchange going on. 

[MaryK4]

Yes, you can add the Schedule E for the new building and include the expenses for the old rental.  You can include the taxes that apply to each building only for the time you owned it as expenses. The 1031 expenses do have to be included with the 8821 and included with the basis.