MBS Real Estate, LP Like-Kind Exchange Analysis 12/31/X8 Calculate the gain if MBS Real Estate decides to sell by utilizing a section 1031 like-kind exchange. Note that the gain calculated on the "Capital Gain" tab is eligible for deferral if all proceeds are utilized in the like-kind exchange. If the identified property is worth more than what was sold, additional cash may be required to close the deal. Like-Kind Property Received Like-Kind Property Given Cash Received 250,000 Detailed on Notes tab Undeveloped commercial land, 150 acres Replacement property Warehouse on 20 acres of land FMV of replacement property Proceeds received from land sale 2,657,462 - Warehouse 950,000 Total value of 1031 asset 2,500,000 - Land 3,100,000 Additional cash needed to close 157,462 - Furniture