Section 1031 exchange

Forum|Forum|2 years ago
May 22, 2023
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I sold one rental property for two replacement properties in a Sec 1031 exchange. Can I combine the purchase price of the two replacements on one Form 8824 and enter the two addresses on line 2.

TomD8

Employee

From the IRS instructions for Form 8824:

Multiple exchanges.

If you made more than one like-kind exchange, you can file a summary on one Form 8824 and attach your own statement showing all the information requested on Form 8824 for each exchange. Include your name and identifying number at the top of each page of the statement. On the summary Form 8824, enter only your name and identifying number, “Summary” on line 1, the total recognized gain from all exchanges on line 23, and the total basis of all like-kind property received on line 25.

https://www.irs.gov/instructions/i8824

**Answers are correct to the best of my ability but do not constitute tax or legal advice.