What would you have to pay in capital gains if you didn't complete a Tax Deferred Exchange? This worksheet will help you make that determination. Keep in mind this is only an estimate of the capital gains tax payable. It should not replace the counsel of your tax professional, nor should it be used for tax filing purposes.
BASIS:  
  Original purchase price of your relinquished property $
  Plus closing costs for that purchase $
  Plus capital improvements
(any major additions or improvements to the property; like adding a room or garage, etc. But not including maintenence.) 		$
  Less depreciation
(total amount of depreciation you have taken since you purchased the property) 		$
 
ADJUSTED BASIS:
$ *
SALES PRICE:  
  Relinquished property sales price $
  Less selling costs
(you can deduct commissions, escrow fees, title insurance, taxes etc.) 		$
 
ADJUSTED SALES PRICE/EXCHANGE VALUE:
$ *
  Realized taxable gain (adjusted sales price - adjusted basis) $ *
TAX ON REALIZED GAIN:  
  Depreciation recapture (depreciation x 25%) $ *
  Net Realized Gain Tax (realized taxable gain x 15%) $ *
 
CAPITAL GAINS TAX TOTAL:
$ *