This field displays the fair market value of the asset that was received as reimbursement for the Casualty / Theft - Replacement asset.

This is the original basis of the asset calculated with depreciation allowed or allowable. (Depreciation allowed or allowable is the greater of depreciation that should have been taken or the depreciation actually taken.)

Click this button to recalculate the Book adjusted basis of the original asset based on changes you may have made to current- or prior-year depreciation.

The application calculates the gain recognized or the loss realized on the exchange and displays it in this field.

To view an on-screen explanation of how the application calculated the gain/loss recognized, click the underlined field label to open the Recognized Gain/Recognized (Loss) dialog. Click the Print button to print the calculation explanation.

The application calculates and displays the deferred gain in this field.

To view an on-screen explanation of how the application calculated the deferred gain amount, click the underlined field label to open the Deferred Gain dialog. Click the Print button to print the calculation explanation.

Enter the FMV (fair market value) of the like-kind property given to the other party in the exchange.

Mark this checkbox if the acquisition of this asset is a significant transaction, in that all gain is recognized.