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    #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?
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    #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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      #3
      Can you give me a little more information? Which totals and which numbers do you mean?

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        #4
        Check out Form 8824,
        JG

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