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1031 exchange, sold one property for 3

Level 5



Client did a 1031, sold one property for 3 with higher value so no taxable gain. I have the excess gain that would become the new basis for the properties (old property was fully depreciated). However, two of the properties come out with a higher basis if I elect out of 1.168 (new property basis - land value) vs one of them has a higher basis if I take the pro-rata excess basis from form 8824. My questions are:


- Since it's part of the same exchange, can I elect out of 1.168 for part of the properties and not the other?

- Anyone has a multi asset worksheet to share? I need to upload it as part of the return, instead of completing a separate 8824 for each.



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