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    susan1sars's Avatar
    susan1sars Posts: 14, Reputation: 1
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    #21

    Jan 30, 2009, 10:37 AM
    Thank you codyman. In my last email I stated a 26,000 gain which should have been 2,600. What I did wrong I guess, was instead of multiplying the boot of 9,133 by the fraction, I multiplied the book value of the old assets?
    Thank you so much for your help.
    codyman144's Avatar
    codyman144 Posts: 544, Reputation: 31
    Senior Member
    		  
    #22

    Jan 30, 2009, 09:11 PM

    Susan,

    I don't know if you're going to come back here but please keep in mind that the rules for tax accounting of like-kind exchanges are different. That website I pointed you to gives a pretty good explanation of what you need to do for tax.
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