Reverse 1031 Like Kind Exchange

[jeffkrx7]

I acquired a rental home in October 2024 and sold the relinquished property in March 2025.  Does this transaction record on the 2024 tax return or 2025 tax return? If deferred to 2025, what cost of the acquired property is recorded on the2024 tax return?

[MaryK4]

You will report the Like-Kind exchange in 2025, but you can enter the adjusted basis on your 2024 tax return for the new rental property.

[jeffkrx7]

What would be used to calculate the "adjusted cost basis"? 1031 exchange transaction fees, prepaid taxes, commission, escrow charges...any clarification is appreciated.