AATUSK
New Member

Get your taxes done using TurboTax

First time doing 1031 exchange as well. Went through the same issue. These messages were very helpful in figuring out where to look.

 

I had this question - " The item was sold, retired, stolen, disposed of converted ...."  in the section "Tell us more about this rental asset" checked. This is under the Business Income & Expenses tab.

Once this question was unchecked; sale of business property will revert to zero

This also removes 4797 from the return.

In a Like-kind exchange the original asset is not being sold (on paper).