GeneInSanDiego
Level 1

Like Kind Exchange Wizard only handles one received asset.  Client exchanged two apartment complexes with hundreds of depreciable assets for four commercial buildings.  $11M sales price, $3M old loans, $17M new buildings, $9M new loans.  Totally qualifies for an exchange.  How many 8824s do I need to prepare?  Like-Kind Exchange Wizard is no help.  Do I exchange each old building for two new buildings?  How do I enter multiple properties received for one given up?  I'm glad I'm starting on this early.  I'd hate to have this on my desk on April 14th.  Help!

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