On a 1031 like-kind exchange, I'm confused by TT question "Fair Market Value of like-kind property you gave up." What blank on IRS Form 8824 does this correspond to?
an accountant filled out 8824 for me and the expected outcomes don't work out unless I use FMV of the NEW property for that TT question. please help! thank you!
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1 Replies
ColeenD3
Expert Alumni
Apr 17, 2022 4:48:51 AM
It is found in Part III. Line 12 Fair market value (FMV) of other property given up. Form 8824