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I'm filling out 8824 the exchange was bare land with

Customer Question
improvements there was no depreciation. JA...
I'm filling out 8824 the exchange was bare land with improvements there was no depreciation.
JA: The Accountant will know how to help. Please tell me more so we can help you best.
Customer: Sales price was 110,000 original purchase price was $60,000 with improvements of $ 32,465. Rental house purchase price was $ 76,400.
JA: Is there anything else important you think the Accountant should know?
Customer: Escrow fees for land was $2543 escrow fees for rental purchase was $ 916. Transfer to rental was $ 84,000 and cash received was $ 23,582.32 for sale of land. On exchange $ 7410.91 was returned to the buyer at closing.
JA: Our top Accountant is ready to take your case. Just pay the $5 fully refundable deposit and I'll fill the Accountant in on everything we've discussed. You can go back and forth with the Accountant until you're 100% satisfied. We guarantee it.
Submitted: 1 year ago.Category: Tax
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Answered in 22 hours by:
3/20/2016
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4,712
Experience: 35 years tax experience, including four years at a Big 4 firm.
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Hi from Just Answer. I'm PDtax. I assume you are asking how to report the transaction on the form.

I can assist with that, but need to ask for a price increase to do so.

Also, I suspect you will have a tax liability from the transaction.

Please review my Offer of Premium Service and advise.

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