Capital Gains on selling out of REIT I put money into a new low income apartment building about 15 years ago. In 2010 we sold the apartment building to a REIT and the money was transferred as a 1031 exchange. At that point I withdrew half of the value. The value that went into the REIT was roughly $14,000 and is currently $16,000 but I will lose $1000 in fees.
Does the capital gains calculation go back to the original amount or just the change in value while part of the REIT?
Will the tax forms I receive include everything I need to calculate the capital gains or do I need to go back to all the paperwork to see my initial investment?
Mark |