Second Like Kind Exchange

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  • KBTS
    Senior Member
    • Nov 2005
    • 564
    #1

    Second Like Kind Exchange

    A client obtained a truck in a like kind exchange in 2007. Last year, they traded that truck in for another truck. Do I just go through the worksheet on page 10-2 of TTB to get the new basis and report on form 8824, or will there be something additional involved?
    Tags: None
    • Davc
      Senior Member
      • Dec 2006
      • 1088
      #2
      You need to use totals in the worksheet. Add the numbers from the first vehicle exchanged to the one currently being exchanged.

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        • KBTS
          Senior Member
          • Nov 2005
          • 564
          #3
          Can you give me a little more information? Which totals and which numbers do you mean?

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            • JG EA
              Senior Member
              • Jul 2005
              • 2176
              #4
              Check out Form 8824,
              JG

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