1031 like kind exchamge

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  • cap4tax
    Junior Member
    • Mar 2021
    • 1

    #1

    1031 like kind exchamge

    Using Starker, client exchanged 3 residential properties into a farm for 1.5 million which included what became a personal residence with a FMV of 350,000 (boot). All proceeds from 3 properties were used as down payment towards farm. How does the additional new loan in the amount of 950,000 affect basis and what line on Form 8824 is this included?
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