Skip to main content
March 26, 2020
Question

Deferred gain

  • March 26, 2020
  • 1 reply
  • 0 views

I have a deferred gain from a Like Kind exchange from 2004.  I have now sold that property and did not role the proceeds into another investment.  Where do I enter this in TurboTax?

Thank you!

    1 reply

    Critter
    Employee
    March 26, 2020

    Not sure what you sold but if it was depreciated property the basis was adjusted when you made the exchange ... now you will just report the sale like any other asset... nothing special needs to be done. 

    csanford2Author
    March 26, 2020

    Thank you for your answer!