topic like kind exchange in Investors & landlords

like kind exchange

big-jim — Thu, 06 Feb 2020 23:06:32 GMT

how to claim deductions for improvements in the same year as the sale of the property

Re: like kind exchange

JohnB5677 — Thu, 06 Feb 2020 23:55:56 GMT

If you had a rental property that you did a like kind exchange with, you would post everything as normal up until you made the exchange. Do not put it down as a sale, but up until that point it would be posted like it was sold.

Re: like kind exchange

Anonymous_ — Thu, 06 Feb 2020 23:56:19 GMT

Please elaborate - provide more details.

The cost of improvements is generally added to your basis in the property you sold. However, you mentioned "like-kind exchange" in the subject line. Therefore, you need add some more facts for this transaction.