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Thank you RobertB4444 for your time and advice.

 

The readings I've done so far also suggested that my farm is a rental property.  Rental property for rental property is a like kind exchange.  

Question #1: Would you elaborate a bit more about "Be careful how you enter it."? 

 

In Turbo Tax Home & Business, the last step in creating a "Sale of Business property" asks whether one wants to

Report This Transaction

   Would you like to report this transaction on one of these activities (with below radio buttons):

  • No Entry
  • Business (Schedule C)
  • Rental or Royalty Property (Schedule E)
  • Farm Rental Property (Form 4835)

I selected "Rental or Royalty property (Schedule E)" and chose to link the relinquished rental house to the 1031 exchange where both relinquished property and replacement property are rental houses, e.g.:  Example - report exchangeExample - report exchangeQuestion #2: Do I need to link the relinquished (or replacement) property to the exchange transaction?

 

For the exchange that includes a rental farm as one of the relinquished property, the other two relinquished and all the three replacement properties are rental houses.  

Question #3: I may not be able to report any property to a "SUMMARY" 8824.  Correct?   

 

Question #4: should my worksheet (I'd use excel) for each pair of the relinquished and replacement properties include entries and/or calculated values (granted some will be zero or blank) that mimics every line on 8824? 

 

Thank you,

Lily