Hi. I completed a standard 1031 exchange, sold old rental and bought a new rental 30 days later for an increase to the mortgage amount and purchase price. I have completed forms 8824 and 4797, but the $300k in deferred gain on the completed forms is not reducing my capital gains amount on 1040. Causing a large tax hit. Form 4797 line 16 shows no entry.
Thank you!
