RobertB4444
Expert Alumni

Get your taxes done using TurboTax

By 'be careful' I was trying to echo what @lori58sf was saying.  If your farm is a farm then your 1031 exchange is invalid.  You have to exchange 'like kind' properties and a farm and a rental house are not like kind.  A rental house that also has an area of farmland attached to it as part of the rental property can be like-kind with a rental house.  

 

You only need to link the transactions by answering the questions in TurboTax.  That should fill out form 8824 for you.

 

Each exchange has it's own 8824 so you can't have a 'summary' form.  However, if your exchange was one property for two properties then all three would be listed on the same 8824 because they're part of the same trade.

 

The more your worksheet mimics the 8824 the easier it will be for the IRS to understand what you've done.

 

 

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