I did a forward 1031 exchange (of real estate), all during 2022 and meeting the various deadlines. I am trying to fill out Form 8824 (using Turbotax). There was no mortgage to be paid off on the relinquished property, and no cash was received from
its sale (the replacement property was far more expensive). There was no "other property" involved in either transaction.

I'm unclear how closing costs are to be handled.

The closing costs for the long-ago purchase of the relinquished property are included in its adjusted basis (along with some improvements).

Line 18 is supposed to include "exchange expenses". Are these meant to include all of (1) the closing costs for the sale of the relinquished property, (2) the closing costs for the purchase of the replacement property, and (3) the fees charged by the
1031 "trusted intermediary" ? Or, for example, should the closing costs of purchasing the replacement property be added to its basis at some future time when I sell the replacement property ?

Also, the form seems only interested in the fair market value of the two properties, not the actual amounts of the two transactions. I have no reason to think they are unequal, but am I expected to somehow justify using the sales price of the
relinquished property, and the purchase price of the replacement property, as the FMV ?

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