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Entering Like-Kind Exchanges in SureFire

🔍 Entering Like-Kind Exchanges in SureFire

SureFire calculates the basis of the new asset if the box is selected to elect out of the regulations listed under T.D. 9115. A new Depreciation worksheet should be created to record the basis of the new asset.

📚 What This Guide Covers

  • Basis calculation - SureFire calculates the basis of the new asset when you select the box to elect out of the regulations under T.D. 9115.
  • Recording the basis - Create a new Depreciation worksheet to record the basis of the new asset.

📝 Important Notes

For more details, refer to the IRS guidance for Form 8824 or T.D. 9115 - Depreciation of MACRS Property That is Acquired in a Like-kind Exchange or As a Result of an Involuntary Conversion.

📞 Still Need Help?

If you are having trouble, contact our support team:

Phone: 1-800-516-9442

Or submit a support ticket



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