Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
E
EDSJoeP
February 25, 2021
Question

How do I enter a like-kind 1031 Exchange where the sold property was December 2020, but replacement property was January 2021? TT Business says date-in-service invalid.

  • February 25, 2021
  • 1 reply
  • 0 views
TT Business kick the error out when doing the Federal check for form 8825. The error says date-in-service is beyond current tax year (2020).

1 reply

A
Anonymous_
Employee
February 25, 2021

There is not much you can do with the product when a 1031 exchange spans two tax years beyond overriding the dates; the transaction does need to be reported on your 2020 return.

 

Overrides generally require printing and mailing the return, of course.

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification