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February 23, 2020
Solved

I sold my rental property and bought 2 rental properties in 1031 exchange. Turbo Tax does not seem to support receiving 2 rental properties. How do I do it in TT?

  • February 23, 2020
  • 1 reply
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Best answer by Anonymous_

TurboTax does not support multi-asset 1031 exchanges fully in the interview mode so you need a desktop version of TurboTax so you can use Forms Mode. Even then, the program offers no guidance for this type of transaction.

 

Having said that, Support (link below) has been able to walk some users through the procedure so you might want to contact them during regular business hours.

 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

1 reply

Employee
February 24, 2020

TurboTax does not support multi-asset 1031 exchanges fully in the interview mode so you need a desktop version of TurboTax so you can use Forms Mode. Even then, the program offers no guidance for this type of transaction.

 

Having said that, Support (link below) has been able to walk some users through the procedure so you might want to contact them during regular business hours.

 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632