He did have a qualified intermediary...I just meant he did it on his own is i am just finding out about it after the fact.  My client got the 60k down last year and interest only payments through the end of the year (the closing was in July).  He is scheduled to get the balance within in the next couple months.  It met all the time constraints.  My main question is: based on the facts what approx is the taxable gain? What is the basis for the new exchanged asset.  I'm having a tough time getting this to report on Proconnect software so I'd like to know if my results are accurate