Question

1032 exchange input

Forum|Forum|5 years ago
March 21, 2021
1 reply
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I can not get back to the form where the price of the original exchanger property is entered. I found it once but can no longer find it to check my numbers.

Thanks

AmyC

Employee

Form 8824 should be what you are looking for. That is for the 1031 exchange.

First, enter the data for the 1031 Exchange. This is done under FEDERAL TAXES... Wages & Income... Business Items... Sale of Business Property. The first question is on "Any Other Property Sales?". Check the box for like-kind exchanges. Complete the questions in this section and TurboTax will:

Generate form 8824 for your like-kind exchange
Calculate the Deferred Gain. This is presented after you answer the questions for the like-kind exchange.
Calculate your New Property Basis. This is presented after it presents the Deferred Gain. Write down the New Property Basis as you will need it later.

from a long thread on 1031

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