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1031 EXCHANGE FORM 8824
Sent to Tax Experts August 13 05:57 PM

Form 8824, like kind exchange, if I provide the figuures can you calculate? Income property sold for $100,245.46 on March 5, 2004. No money owed on property. Purchased in March 5, 1994. Basis in property $43,465.00. Exchange company broke the sell down as follows: $100,246.46 -300.00 exchange fee, -$20,000.00 Boot Draw/Partial Proceeds= $79,945.46 Money to be wired to the 1031 exchange. Purchased income property on April 26, 2004 for $100,000.00. Could you figure the form 8824 from this information?

Customer (name blocked for privacy)
Status:  Closed   Value: $20
Info Request
August 13 6:18 PM (21 minutes and 50 seconds later)
         
REPLIED to Info RequestCheck Mark
Dear Customer (name blocked for privacy) -

I was hoping you would stay online, or come back shortly, so I could ask you some followup questions. Unfortunately, you have not responded to the "information please" post I left for you in several hours, and I am going to be gone beyond the time this post will stay current on the board.

I would advise you to seek professional assistance in preparing your Form 8824 (for it summarizes information from several other parts of your return), and it is perhaps not appropriate for you to depend on a specialist attempting to "do the form for you online".

We are here to try to illustrate (by examples) how your situation can be handled - by yourself, or other competant advisors. We really are not "tax preparers online".

Thank you for using Justanswer.com, and maybe we can be of help at another time in the near future!


Edited by DCTaxing on August 13 2005 at 10:29 PM
Dennis Cook -- Tax Accountant -- 100% Positive Feedback on 57 Tax Accepts
30 Years Experience - Tax Accountant in private practice
Reply
August 13 11:55 PM (5 hours and 36 minutes and 41 seconds later)
         
Reply to Dennis Cook's Post: Mr.Cook, I am sorry for not getting back to you sooner. My computer at work would not access your address. The one at home will. Thank you for your reply. I appreciate your concern and will consider your advice. Jeanne
Customer (name blocked for privacy)
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