barrysafeer
Level 3
03-29-2022
02:25 PM
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Thank you all for the comments!! So many knowledgeable people here 🙂 More details:
Sold commercial property A for $1.1 million. Basis of that property A (after depreciation) is $18,263. So gain is $1,081,717. How do I show this on the Form 8824?
Bought new commercial property B for $1.1 million. When I set-up the new asset schedule, what do I put in as the basis?
How does the gain flow through to get captured on the new asset?
If anyone has a worksheet or sample 8824 they want to share - please and thank you.