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Get your taxes done using TurboTax
I don't see a reply to pmPMpm's question above.
Anita01 states to combine any multiple properties on the relinquished/replacement sides and entered as a single entry in Turbotax step-by-step screens. This will carry to foam 8824.
Is the correct answer to pmPMpm's question that he needs to add each of the multiple properties he acquired as replacement properties as a new rental property and allocate one-third of the basis to each?
How would he handle the relinquished property that is already in the system?
Gary
‎July 15, 2019
10:11 AM