Purchased Rental House on 1/1/2015 for $450,000. $200,000 allocated to land, and $250,000 allocated to building. Sold Rental House on 9/15/2021 for $500,000. Sold house through a Qualified Section 1031 like-kind exchange to purchase a rental house in Nevada. FMV on date of sale was $500,000. Purchased new rental house on 1/1/2022 for $500,000. Rental house had no revenue, and the only expense was depreciation in 2021.
![](http://writerscampus.com/wp-content/uploads/2023/06/matese-fields-pvHma684eEI-unsplash-scaled.jpg)
It’s that simple.Pay only when you are satisfied.
Get Personalized Homework Help
Improve Your Grades Today
How It Works
1-Send us your Assignment requirements, attach and deadline for submission.
2-You will get a confirmation from us with a price quote.Pay us and be relax.
3-Your Completed task will be e mailed to you before agreed time.
Submit Your Assignment/Essay/Discussion/Term Paper/Final Exam or CaseStudy Detail
Available 24/7!
Send your academic problems,
Get instant Help only at Writerscampus!