BPM11
Level 1
10-16-2022
05:47 PM
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Are rental income and expenses on parked property used for like kind exchange reported on my client's 2021 schedule E, where replacement property was purchased in 2021 using like kind exchange facilitator, and relinquished property not sold until year 2022. If so, do I use 2022 sale of relinquished property to determine basis and use that basis amount for 2021 depreciaiton?
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