- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
@chill444 wrote:Does this make sense that the asset would be deleted since it was sold under the 1031 program?
I think so because you most likely made some sort of error when you first keyed in the transaction. You shouldn't have a 4797 at all, just an 8824.
I'm not sure about the program functionality here but I believe the correct way to do this is to use the section where you indicate you did a 1031 exchange and start there.
March 18, 2025
11:15 AM