KA T
KB L
KC ~
|
+ KFMO - KADO ^ KL014
+ KCAS + KFMY ^ KL017
+ KL017 - KADY ^ KL019
+ KCAS ^ KL020
+ KCAS - KL019 > + KL019 ^ KL020
+ KL020 < ^ KL020
+ KL020 - KORD ^ KL022
+ KL022 < ^ KL022
+ KORD + KL022 ^ KL023
+ KL019 - KL023 ^ KL024
+ KL019 < + KL019 ^ KL024
+ KADY + KL023 - KCAS ^ KL025
+ KC - X \ + KA - T = + KB - L = + KL022 ^ G005H   ' Form 4797 line 5
+ KC - X \ + KA - T = + KB - S = + KL022 ^ G017H   ' Form 4797 line 17
+ G017H + KORD ^ G017H
+ KC - X \ + KA - I = + KB - L = + KL022 ^ KLD2G   ' Schedule D line 12
+ KC - X \ + KA - I = + KB - S = + KL022 ^ KLD4G   ' Schedule D line 4
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S Was property used in a TRADE OR BUSINESS or for INCOME-PRODUCING PURPOSES?...[
X KA `T`I
Q 'T' = Trade or business, 'I' = Income-producing purposes.
S ]
^
S Is this a SHORT or LONG term property?.......................................[
X KB `S`L
Q 'S' = Short term, 'L' = Long term.
S ]
^
S Check here if the installment method applies.................................[
X KC `X`~
Q Insert 'X' or ' '.
S ]
^
R -80
^
S PART I  INFORMATION ON THE LIKE-KIND EXCHANGE~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
S ~~~~NOTE: If the property described on line 1 or 2 is real property located~~~~~
^
S ~~~~outside the United States, indicate the country.~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
S ~1  Description of like-kind property given up >~
P _______________________________
^
S ~~~~
P ____________________________________________________________________________
^
S ~2  Description of like-kind property received >~
P _______________________________
^
S ~~~~
P ____________________________________________________________________________
^
S ~3  Date like-kind property given up was originally acquired.......! 3 !
P __/__/__
^
S ~4  Date you actually transferred your property to other party.....! 4 !
P __/__/__
^
S ~5  Date like-kind property you received was identified............! 5 !
P __/__/__
^
S ~6  Date you received the like-kind property from other party......! 6 !
P __/__/__
^
S ~7  Was the exchange made with a related party? If "Yes", complete Part II.~~~~~
^
S ~~~~If "No", go to Part III..................................................[
P ~
Q 'Y' = Yes, 'N' = No.
S ]
^
S --------------------------------------------------------------------------------
^
S PART II  RELATED PARTY EXCHANGE INFORMATION~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
S ~8  Name of related party~
P ______________________________
S ~!~ID Number~
P ___-__-____
^
S ~~~~Address~
P ____________________________________________________________________
^
S ~~~~City~
P ________________________
S ~State~
P __
S ~ZIP~
P _____
S ~!~Relationship~
P ____________
^
S ~9  During this tax year (and before the date that is 2 years after the last~~~~
^
S ~~~~transfer of property that was part of the exchange), did the related~~~~~~~~
^
S ~~~~party sell or dispose of the property received from you in the exchange?.[
P ~
Q 'Y' = Yes, 'N' = No.
S ]
^
S 10  During this tax year (and before the date that is 2 years after the last~~~~
^
S ~~~~transfer of property that was part of the exchange), did you sell or~~~~~~~~
^
S ~~~~dispose of the like-kind property you received?..........................[
P ~
Q 'Y' = Yes, 'N' = No.
S ]
^
R ~80
^
S ~~~~If both lines 9 and 10 are "No" and this is the year of the exchange, go to~
^
S ~~~~Part III. If either line 9 or 10 is "Yes", the deferred gain or (loss) from~
^
S ~~~~line 24 must be reported on your return this tax year, UNLESS one of the~~~~
^
S ~~~~exceptions on line 11 applies. See RELATED PARTY EXCHANGE instructions.~~~~~
^
S 11  If one of the exceptions applies to the disposit., check the applicable box:
^
R ~80
^
S ~~a [
P ~
Q Insert 'X' or ' '.
S ] The disposition was after the death of either of the related parties.~~~
^
S ~~b [
P ~
Q Insert 'X' or ' '.
S ] The disposition was an involuntary conversion, and the threat of~~~~~~~~
^
S ~~~~~~~~conversion occurred after the exchange.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
S ~~c [
P ~
Q Insert 'X' or ' '.
S ] You can establish to the satisfaction of the IRS that neither the~~~~~~~
^
S ~~~~~~~~exchange nor the disposition had tax avoidance as its principal purpose.
^
F
^
S PART III  REALIZED GAIN, RECOGNIZED GAIN AND BASIS OF LIKE-KIND PROPERTY RECEIV.
^
S ~~~~NOTE: Complete lines 12 through 14 ONLY if you gave up property that was not
^
S ~~~~like-kind. Otherwise, go to line 15.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
S 12  Fair market value (FMV) of other property given up!12 !
C KFMO
c KFMO
S !\\\!~~~~~~~~
^
S 13  Adjusted basis of other property given up.........!13 !
C KADO
c KADO
S !\\\!~~~~~~~~
^
S 14  Gain or (loss) recognized on other property given up. Subtract~!   !~~~~~~~~
^
S ~~~~line 12 from 13................................................!14 !
T KL014
^
S 15  Cash received, FMV of other property received, plus net        !   !~~~~~~~~
^
S ~~~~liabilities assumed by other party, reduced (but not below     !   !~~~~~~~~
^
S ~~~~zero) by any exchange expenses you incurred....................!15 !
C KCAS
c KCAS
^
S 16  FMV of like-kind property you received.........................!16 !
C KFMY
c KFMY
^
S 17  Add lines 15 and 16............................................!17 !
T KL017
^
S 18  Adjusted basis of like-kind property you gave up, net          !   !~~~~~~~~
^
S ~~~~amounts paid to other party, plus any exchange expenses        !   !~~~~~~~~
^
S ~~~~NOT used on line 15. See instructions..........................!18 !
C KADY
c KADY
^
S 19  REALIZED GAIN OR (LOSS). Subtract line 18 from 17..............!19 !
T KL019
^
S 20  Enter the smaller of line 15 or 19, but not less than zero.....!20 !
T KL020
^
S 21  Ordinary income under recapture rules. Enter on Form 4797,     !   !~~~~~~~~
^
S ~~~~line 17........................................................!21 !
C KORD
c KORD
t FG1 G017H 047 2 Transferred to Form 4797, line 17 column (h).
^
S 22  Subtract line 21 from 20. If zero or less, enter -0-. If more  !   !~~~~~~~~
^
S ~~~~than zero, enter on Schedule D or Form 4797 unless the         !   !~~~~~~~~
^
S ~~~~installment method applies.....................................!22 !
T KL022
t FD1 D4G   011 2 Transferred to Schedule D, line 4 if a short term property used for
t FD1 D4G   011 2              income producing purposes, unless the installment method applies.
t FD1 D2G   032 2 Transferred to Schedule D, line 12 if a long term property used for
t FD1 D2G   032 2              income producing purposes, unless the installment method applies.
t FG1 G005H 014 2 Transferred to Form 4797, line 5 if a long term property used in
t FG1 G005H 014 2                    a trade or business, unless the installment method applies.
t FG1 G017H 047 2 Transferred to Form 4797, line 17 if a short term property used in
t FG1 G017H 047 2                    a trade or business, unless the installment method applies.
^
S 23  RECOGNIZED GAIN. Add lines 21 and 22...........................!23 !
T KL023
^
S 24  Deferred gain or (loss). Subtract line 23 from line 19.........!24 !
T KL024
^
S 25  BASIS OF LIKE-KIND PROPERTY RECEIVED. Subtract line            !   !~~~~~~~~
^
S ~~~~15 from the sum of lines 18 and 23.............................!25 !
T KL025
^
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