How to report as Partial Owner in Like-Kind Exchange?

[franmikaloff5]

I owned 20% in an apartment that was sold in 2017 under a Like-Kind Exchange. On Form 8824 do I enter only the 20% of the sale and 20% of new property or am I to report the entire sales price and entire purchase price?

[MichaelDC · Accepted solution]

Yes. Good instincts! You would enter only the amount that represents your ownership interest.  For example, if it was a rental property that you owned 20% of and it was sold for $200,000 you would treat it like it was $40,000.

Please feel free to post any additional details or questions in the comment section.