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    related to: form 8824 example for multiple properties
      • Example: Exchanger settles on the relinquished property on Dec. 14, 2018, and then settles on replacement property May 1, 2019. Exchanger would file IRS Form 8824 with the 2018 return, after filing for an extension. Do not file 2018 tax return until all replacement properties are received.
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  2. Property market value, you must list the property’s actual value and not the purchase price. Example 1: Enter $80,000 Example You sold a hotel with beds, desks, etc. and acquired an unfurnished apartment building. The aggregate fair market value of the personal property which will not be replaced was $100,000 with an adjusted basis* of $10,000.

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  3. Fill out only lines 15 through 25 of each worksheet Form 8824. On the worksheet Form 8824 for the part of the property used as a home, follow steps (1) through (3) above, except that instead of following step (2), enter the amount from line 19 on line 20.

  4. FORM 8824, THE LIKE KIND EXCHANGE FORM. The combination of the HUD-1 and the information on our Capital Gains Tax page will be all that you need for the completion of the form. For review, we are dealing with the following scenario. FORM 8824 EXAMPLE. Alan Adams bought a Duplex ten years ago for $200,000 cash. He assigned a value of $20,000 to the land.

  5. Form 8824 Fill in Version Like Kind Exchanges. Receipt of multiple properties within one like-kind group is also a multi-asset exchange. Enter the amount you received from the sale of the divested property minus any selling expenses. Line 35.

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  6. When multiple properties are either relinquished or received, the taxpayer should prepare a schedule to show the detail by property. This applies to all lines of Form 8824 and related Forms on which the word “property” appears. Regulation 1.1031(j)-1 can be relied upon to allocate basis among multiple assets involved in a single exchange.

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