Thanks for the detailed response Randy!
It looks like I got it to work properly with your instructions.
One mistake worth noting that I was also making would fall under the third step you mentioned - regarding the data for the relinquished rental property.
After your step 5 (in section 3), when asked: "Did you stop using this asset in 2019?" After answering Yes, the next question asks about the date of Sale or Disposition. I put the correct dates.
The next question after that asks about Special Handling; No
Subsequent question; Home Sale - No
Then we arrive at Sales Information. If I put in any info regarding the Asset Sales Price, Asset Sales Expense, Land Sales Price, or Land Sale Expenses - a form 4797 is generated.
Hence, I would have to leave them all at 0 for everything to work out. And that makes sense because the property was exchanged - not Sold!
Thanks again!
