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sillysyl
Level 3
April 29, 2020

8824

  • April 29, 2020
  • 1 reply
  • 5 views

I’m working on an 8824 my dilemma is that they have 109,000 of capital gains. I am unable to zero this out, is it possible? The property sold  for 195,000 cost base was 75,000. The property purchased for 244,000. 

I am thinking that I must be entering the numbers in the wrong spots. Any suggestions would be greatly appreciate it

 

Sillysyl

 

 

 

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    1 reply

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    April 29, 2020

    You didnt include what software youre using, but maybe this will help

    https://proconnect.intuit.com/community/help-articles/help/1040-completing-a-like-kind-exchange-of-business-property-1031/00/5827

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
      S
      sillysylAuthor
      Level 3
      April 29, 2020

      Thank you

       

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