HI Randy
TT Expert advice isn't really addressing my question. Hoping you can answer this since it seems like you know how to handle a 1031 exchange in TT.
I performed a 1031 exchange in 2020. The property given up was acquired AND put into service on 10/04/2005. The property received was in 2021. I filed form 8824 smoothly in 2020. I am entering the property received on tax year 2021's return. My question has to do with the schedule E. Which date am I to use for the property received? Do I enter the actual date I acquired it which is 3/15/2021 or the date I acquired the original property "aka the like-kind property given up/relinquished" which is 10/04/2005? My understanding is that I am to use the date of the property given up, since the property received is simply exchanged, and all the depreciation needs to move to the property received. Thank you - sw
