I purchased the Premier Turbo tax - paying more to have the TT to handle 1031 exchanges. That I can do - I can do the 8824.
I cannot do the sale/disposition of the asset -
I MUST dispose of the asset - original asset so I can correctly calculate the depreciation for the year.
When I dispose - it calculates a gain on disposition.
That is wrong - as when I do the step-by-step - for the like kind exchange, the gain is deferred.
and I can NOT find where to enter the 1099-S
So - why am I paying for premier, and all the technical experts that answer never address that TT does not have a place to enter the 1099-S.
From what I read - you should enter the 1099-S, in box 2 enter zero, and in box 4 place an "x" this would not make the sale taxable. This is great!!! BUT TT does not let me enter the 1099-S . When I select a form, there is no form 1099-S.
It says IRS will look for a 8949 gain/loss - as that what would happen from a 1099-S.
I don't want to get "flagged" for audit because my turbo tax package does not let me enter the data I need to enter.
This is a routine thing - so it should be in the package.
I NEED HELP. Don't just tell me to do form 8824.
