Question

schedule E Rental in a like kind exchange

Forum|Forum|6 years ago
October 16, 2019
1 reply
0 views

I sold a Schedule E full time rental property in a like kind exchange. After completing schedule E and indicating it was sold, I could not figure out how to link that with the like kind exchange. I started the form 8824 but my taxes went sky high because there was no link to the schedule E property and TT figured I received $49K in cash, whereas I did not. I am using TT Home & Business; I missed the 10/15 deadline because I could not figure that out. 😞 😞 😞

TurboTax Home & Biz Windows

A

Anonymous_

Employee

If you enter the transaction (1031 exchange) as the Sale of Business Property and check the Any additional like-kind exchanges (section 1031) box, you should see the following screen at the end where you can link to a Schedule E entry.

lk.png