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Level 2
posted Aug 28, 2024 2:51:21 PM

Re: FAILED 1031 THAT CROSSES TAX YEARS

That is exactly what it is supposed to do. A failed 1031 exchange becomes a two year installment sale. Use form 6252 Installment Sale. It takes a little work, but it's not so difficult. Well worth saving hundreds if not thousands in taxes. I did mine in HR and it wasn't a big problem. I switched because I was catching up on filing and TT wouldn't support anything older than 3 years and mine was 2020. I can't tell you how to do it in TT but if you look up that form, it probably will work the same. 

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New Member
Sep 3, 2024 3:08:12 PM

sorry for the silly question. What is the QI that the funds where held in?  What does TT Premier stands for? Turbo Tax premier?