About Barry_C

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Re: 1031 Exchange Across 2 Tax Years - Acquired Property

How do I account for closing costs for the acquired property on Form 8824?Also, I'm coming up with a higher amount for "Cash Given" on From 8824 than the Smart ...

Barry_C

1

Updated Feb 19, 2025
Re: 1031 Exchange Across 2 Tax Years - Acquired Property

I have a follow-up question on this topic. My Form 8824 Smart Worksheet asked for the FMV of the new property, less mortgage assumed, to come up with the "total...

Barry_C

3

Updated Feb 19, 2025
Re: 1031 Exchange Across 2 Tax Years - Acquired Property

I have a follow-up question on this topic. My Form 8824 Smart Worksheet asked for the FMV of the new property, less mortgage assumed, to come up with the "total...

Barry_C

Updated Feb 19, 2025
Re: 1031 Exchange Across 2 Tax Years - Acquired Property

Thanks, that's helpful. What happens to the deferred gain? Does that stay in TurboTax when I sell the property sometime in the future?Barry

Barry_C

6

Updated Feb 19, 2025

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Date Registered	‎January 25, 2025 3:16 PM
Date Last Visited	Wednesday
Total Messages Posted	5

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