Online Like Kind Exchange Calculator
ACalculator is designed to calculate any gain or loss realized from newly possessed property. But these properties must be something that is recognized by IRS. According to IRS, any exchange of property to obtain new property of the same kind will not be considered as recognized.
- Date of Transfer
- The date when the properties were transacted.
- Description of Like Kind Property
- Describe the like kind property received by inputting date of transfer, sales price or FMV in dollar, and liabilities/mortgages in dollar in this section.
- Sales Price or Fair Market Value
- The Fair Market Value or FMV of the like kind property. This is the selling price of the property.
- Less Liabilities/Mortgages
- Total liabilities or mortgages on the like kind property. This is a deductible item in the ‘Like kind property received’ section.
- Adjusted Basis
- The net cost of the like kind property after deducting any tax related items.
- Exchange Expenses
- Total cost related to the exchange of the property.