deferred section 1031 exchange

[snatkowitz]

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.

[sjrcpa]

You mean they are selling property that they acquired through a like kind exchange?

Is California involved?

[snatkowitz]

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

[sjrcpa]

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.

[snatkowitz]

thank you so much