I have a sale of real estate that has a deferred 1031 gain
how do I report it and what form would be used
There is not going to be another 1031 exchange with the sale.
You mean they are selling property that they acquired through a like kind exchange?
Is California involved?
no it is in NYS and is a property that was acquired by like kind exchange how does the deferred gain
get reported is it added to the sale price or just shown as a real estate capital gain
Thanks
The deferred gain reduced the basis of the property acquired in the like kind exchange. It gets recognized now when the sale is reported. Sale Price - basis = gain.
thank you so much
