hzou
Level 1

Get your taxes done using TurboTax

@randoodle,  @Husam22 

......

"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! "

 

Actually, I had to literally delete 0 out of the box to leave the sales box blank to get a correct form 4797.