Form 8824 Like Kind Exchange

[Michael]

Client purchased residential rental property for $320,000 of which $45,000 was land. 10 years later after taking $100,000 of deprecation he sold the property for $450,000. Two months later he purchased replacement property for $750,000. How much depreciation can I take on the replacement property? Thank you

[Burke]

Are you sure this was a 1031 Exchange? Did he sell outright, get the proceeds, then buy the new property separately? If so, it does not qualify.

[Michael]

There was a qualified intermediary, etc.

[Maude Lebowski]

The basis for depreciation going forward is the amount from Form 8824, Part III, Line 25.

[TaxGuyBill]

Is the new property also Residential Rental Property, depreciated over 27.5 years?

What is the value/cost of the land for the new property?

[Edit]: What is the ending value/sale price of the land of the old property?