Please help!  client sold his residental rental building on Dec. 28, 2018 earmarked thru the contract for 1031 exchange.  he received a 1099 S FORM with line 2 filled in for gross proceeds of $760,000. How do I notify the IRS that this transaction is a 1031 exchange.  He has the same type of residental rental building that he will be buying with that money in roughly 3 weeks, his loan has been approved,  And what do I do with the depreciation he has taken from the 10 years on the old building.  What do I do with the closing costs, if anything.   Thank you