In stepping through a like kind exchange I come to a screen where TurboTax is asking for any sales expenses, which includes:
Sales expenses include the following:
- Sales commissions
- Advertising expenses
- Legal fees
- Loan charges paid by the seller, such as loan placement fees or points
- Broker fees
- Transfer taxes
- Option premiums
This in turn populates line K (Exchange expenses total) of the smart worksheet for line 15 of Form 8824. Unfortunately what is requested are only the expenses associated with the relinquished property, not the qualified intermediary fee and costs associated with the purchase of the replacement properties. Where are these costs entered?
