If you exchange either business or investment property that is of the same nature or character, the IRS won't recognize it as a gain or loss. This calculator is designed to calculate recognized loss, gains and the basis for your newly received property.
Like Kind Exchange Calculator
Like Kind Exchange Calculator Definitions
- Date of Sale
- Date the sale of the received property or property given up took place.
- Date of Purchase
- Date the purchase of the received property or property given up took place.
- Description of Like Kind Property
- Brief description of the property involved in this exchange.
- Sales Price or Fair Market Value
- The sales price or Fair Market Value (FMV) of the property sold.
- Purchase Price or Fair Market Value
- The purchase price or Fair Market Value (FMV) of the property received.
- Less Liabilities/Mortgages
- Any liabilities or mortgages on the property.
- Adjusted Basis
- The adjusted basis of the property that was given up.
- Exchange Expenses
- Any expenses associated with this exchange.