Answered: 1031 Exchange with one property sold and two acquired. How do I allocate the original basis of the house sold over the two new properties for depreciation? Thanks.

chapguy19

abctax55

I use the FMV of the two properties to come up with a ratio.

"*******Tax software is no substitute for a professional tax preparer*******
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abctax55

I use the FMV of the two properties to come up with a ratio.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

chapguy19

Thanks for your quick response.

Christopher

1031 Exchange with one property sold and two acquired. How do I allocate the original basis of the house sold over the two new properties for depreciation? Thanks.