njb
Level 1
10-12-2022
08:45 PM
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I have the opposite problem. Received property, including cash, is more than the property given up. There was no cash given up. So there is a gain.
The worksheet keeps putting the gain amount on line M as "Cash Given". And adds it to Line 18, Adj Basis of Like Kind Property Given Up.
What am I missing? It is a related party exchange.