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I performed a 1031 exchange recently. I exchanged 1 property
Second opinion] Good morning, I performed a 1031 exchange recently. I exchanged 1 property for several. I've completed form 4562 and 8824. Form 4562 seems focused on setting up the new depreciation bu… read more
Carter McBride
Carter McBride
LLM
3,150 satisfied customers
Lane....is it possible for you to walk me thru a form 8949
Good Morning Lane....is it possible for you to walk me thru a form 8949 regarding a dplex I sold in 2017...1/2 personal residence....1/2 rental which will be deferred1031 exchange...no mortages...cash… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,980 satisfied customers
I sold a duplex in 2017...one half was my primary residence
I sold a duplex in 2017...one half was my primary residence and one half was rental...I qualify for one half as the sale of my personal residence and am able to use the exemption..the other half I use… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,980 satisfied customers
A client of mine sold a hotel. After that he kept the deed
A client of mine sold a hotel. After that he kept the deed for one day and transferred the deed to a new corporation in which he is buying a new hotel. Can he do a 1031 in the old corporation and file… read more
PDtax
PDtax
Owner
Master's Degree
9,538 satisfied customers
Questions on a 1031 - exchange Do we need to have an QI
questions on a 1031 - exchange Do we need to have an QI always ? what are the paper work i am suppose to keep just in case the IRS comes back with an Audit. Do we prapare the return and send it waitin… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,980 satisfied customers
How can i report one asset exchange to two assets in form
how can i report one asset exchange to two assets in form 8824? do I need to fill out two 8824 forms or just one? thanks. HL… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
1,930 satisfied customers
Second opinion] how can i report one asset exchange to two
Second opinion] how can i report one asset exchange to two assets in form 8824? do I need to fill out two 8824 forms or just one? thanks. HL… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
1,930 satisfied customers
We (married couple filing jointly) are selling a house in California
We (married couple filing jointly) are selling a house in California that's going through escrow and about to close in a few days. W did a "partial" 1031 exchange in 2000 to acquire the house I am now… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,980 satisfied customers
I sold a property and purchased a new one, rolling the gain
I sold a property and purchased a new one, rolling the gain from the first property into the second property (1031 exchange). Do I need to fill out any special forms when I do my taxes? On my hud stat… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
I sold a house 50 % Business Use & 50% personal use, ( two
I sold a house 50 % Business Use & 50% personal use, ( two family house) I bought the house on 2001 for 300 sold for 700, during the 45 days Y bought two property one 2 family rental property 100% bus… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
last year, we have a rental property sale exchange,
last year, we have a rental property sale for 1031 exchange, how do i report it on the tax return, the gain of sale is $57,000. Thanks… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Did a 1031 exchange in 2005 with a gain. sold the property
Did a 1031 exchange in 2005 with a gain did file a 8824 reporting the gain. sold the property in 2011 at a loss. ( Did purchase a new property in 2011, but not as part of the 1031.) Is a 8824 required… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
Question 1 I have owned a rental home (in Georgia) for a number
Question 1: I have owned a rental home (in Georgia) for a number of years which has provided me with good income. However, I want to sell the rental home as the neighborhood is "not what it use to be"… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,360 satisfied customers
A partial tax free exchange is started in 2007. It completes
A partial tax free exchange is started in 2007. It completes in 2008, with some boot received in 2008. When does the taxpayer pay the tax, in 2007 or 2008? When is form 8824 filed, in 2007 or 2008.… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I purchased a rental property, sold it at a profit and used ...
I purchased a rental property, sold it at a profit and used all monies in a 1031 exchange for another property. Now, 3 years later I sold this property and bought no other properties. I now am in the … read more
RD
RD
Self Employed
Master's Degree
5,572 satisfied customers
In calculating form 8824-like/kind exchanges please assist ...
In calculating form 8824-like/kind exchanges please assist: I sold property A for $2,850,000. I purchased/exchanged Property B with a FMV/cost of $1,798,341. The basis of Property A sold is $1,532,498… read more
Brad
Brad
Bachelor's Degree
122 satisfied customers
I am self employed, I deal in coins i use the cost ...
I am self employed, I deal in coins i use the cost accounting method. I traded 70 coins for 70 other coins, no money exchanged hands just the coins. the coins I bought several years ago for $350.00 ar… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,490 satisfied customers
How do I get expert help completing form 8824 Like-Kind Exchanges
Sold a property for 665,000 - Purchase 2 243,990 & 409,000. I want to do a 1031 Exchange. Having problems completing the 8824 part III line15 - 25. I do my own taxes. Dont want to go get help for ever… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
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