Determine New Basis in Like-Kind Exchange

New Basis in Like-Kind Exchange

FMV property received: $
Cash received: $
Old mortgage: $
New mortgage: $
Old basis: $
Gain recognized: $
Loss recognized: $

1. Calculate Amount Realized:

FMV property received:
$ + Cash:
$ + Old mortgage amount:
$ = AMOUNT REALIZED:
$

2. Calculate Gain Realized:

Amount realized:
$ - Old basis:
$ - New mortgage:
$ = GAIN REALIZED:
$

3. Calculate New Basis:

Old basis:
$ - Cash received:
$ + Gain recognized:
$ - Loss recognized:
$ - Old mortgage:
$ + New mortgage:
$ = NEW BASIS:
$