michele
Level 4
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Differing opinions over addresses.  The client gave up 2 properties to receive multiple properties.

The exchange numbers and figures are all good the problem comes in because on the 8824

it lists only the name of the first property although the other property is given up. Yes all the properties and assest are included in this exchange and the figures are all correct. I have one in the office that wants to do 2 like kind exchanges so that there is a name given for each property.  I say NO to me this creates 2 like kind exchanges when there is only 1 and the paperwork only shows that this is one transaction. Then you must decide what property recevied goes with each one sold. and this is not how the transaction took place.  Anyone have this situation.

 

thx

Michele

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