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Get your taxes done using TurboTax
Hello Diane
Using the Schedules E Asset Entry Worksheet I've done the following: The like-kind property given up was put into service on 10/04/2005. The like-kind property received was put into service on 03/15/2021. Below I inputed 03/15/2021 in "date purchased or acquired" for the like-kind property received and 10/04/2005 for "date placed in service". It's causing an error. If I use 10/04/2005 for both line 2 and 3 it resolves the error. Can you let me know which date I should be using for both "date purchased or acquired" and "date placed in service" for the like-kind property received? See first screenshot.
Also, is line 10 on the same worksheet where I put prior depreciation? See second screenshot.
‎January 31, 2022
7:28 AM