Amanda1248
Level 1
05-01-2020
12:55 AM
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Hello!
I have a question about a client who sold 1 rental property in December of 2019 and purchased 1 like kind exchange property in January of 2020. On top of that, there was a $0 gain or loss. The sum of the old property's sale price, minus the existing mortgage, and subtracting the closing/selling costs equals the new properties sale price, to the penny.
Does anyone have a tip on how to complete the exchange? Whenever I enter in the figures, I receive wildly different results, I must be doing something wrong...
Thanks in advance for the help!!
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