[Barney]

Hi all! I’ve taken REG a few times and every single time my report comes back saying I’m weak in property transactions. I just spun through them again and I suck at them. Any tips on how to master these? Like kind exchanges are my nemesis. 🙁

[Recked]

What review materials are you using and what part of like kind exchanges are you not getting? Or property transactions in general?

[Barney]

@ReckedRacing Mostly LKE transactions. I'm using Becker.

[Recked]

You just need to remember the rules to determine tax consequences and basis.
Doing a journal entry is the easiest way to arrive at the basis in the new asset.
I'd suggest rewriting the LKE rules over a few times until it all clicks.
Not really sure how else to help you.
Any specific questions?

[Author]

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