Question
Re: FAILED 1031 THAT CROSSES TAX YEARS
That is exactly what it is supposed to do. A failed 1031 exchange becomes a two year installment sale. Use form 6252 Installment Sale. It takes a little work, but it's not so difficult. Well worth saving hundreds if not thousands in taxes. I did mine in HR and it wasn't a big problem. I switched because I was catching up on filing and TT wouldn't support anything older than 3 years and mine was 2020. I can't tell you how to do it in TT but if you look up that form, it probably will work the same.
