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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
Line-1 on 8824 form-1:
Old-Property-Address - 60% to New-Property-Address-1
Line-1 on 8824 form-2:
Old-Property-Address - 40% to New-Property-Address-2
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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
You must apportion your original basis in the relinquished property,under the Treasury Regulations, an exchanger must generally allocate basis among replacement multiple replacement properties ratably, in proportion to their relative respective values.
You may file only a summary Form 8824 and attach your own statement showing all the information requested on Form 8824 for each exchange. Include your name and identifying number at the top of each page of the statement. On the summary Form 8824, enter only your name and identifying number, "Summary" on line 1, the total recognized gain from all exchanges on line 23, and the total basis of all like-kind property received on line 25.Mail in to the IRS with your tax return.
Use TT to file a summary 8824 and then attach a personal excel spreadsheet to provide all of the details.
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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
You must apportion your original basis in the relinquished property,under the Treasury Regulations, an exchanger must generally allocate basis among replacement multiple replacement properties ratably, in proportion to their relative respective values.
You may file only a summary Form 8824 and attach your own statement showing all the information requested on Form 8824 for each exchange. Include your name and identifying number at the top of each page of the statement. On the summary Form 8824, enter only your name and identifying number, "Summary" on line 1, the total recognized gain from all exchanges on line 23, and the total basis of all like-kind property received on line 25.Mail in to the IRS with your tax return.
Use TT to file a summary 8824 and then attach a personal excel spreadsheet to provide all of the details.
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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
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I sold one rental property in 12/16, bought two in 1/17 for 1031 exchange. Can I file two 8824 forms, split the old property based on the new property values?
I sold one rental property, bought 2 rental properties in 2019 for 1031 exchange. Can I file two 8824 forms?
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