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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Like Kind Exchange-New Asset Basis
Like Kind Exchange-New Asset Basis
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Steve E
Level 2
08-08-2022
04:29 PM
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After going through the like kind exchange calculations and finally getting the 8824 to look the way I want it to look I'd like to know how the tax basis for the received assets gets adjusted to the amounts calculated in the 8824, Part III, line 25, Basis of Link-Kind Property Received?
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