We sold a rental in December 2020, did a 1031 Exchange to a DST in January 2021. I am following the steps here (enter exchange info first on Form 8824, then new property on Schedule E, then old property on Schedule E):
https://ttlc.intuit.com/community/taxes/discussion/1031-exchange-for-rental-property-end-to-end-ques...
However, after I create the DST as a new rental on Schedule E, when I go enter the new property as an asset, it won't let me put the date acquired/placed in-service as 2021. That is, I want to complete the exchange "process" by having a new Schedule E property with it's basis as carried-over from the exchange.
Do I have to wait until 2021 taxes to enter this? Or do I leave it as a rental, but with no assets until 2021? Or is there some way to enter the asset with zero depreciation in 2020?
Thanks for any help!
- Rick
