Get your taxes done using TurboTax

Thank you tagteam for the advice. 

 

IPX1031 which helped us complete the exchanges also believed that the rental farm is a like-kind with respect to residential rental real estate.  

 

Tagteam, I did three exchanges last year, with three individual IPX1031 exchange case numbers.  Would you please confirm my questions:

  1.  Two exchanges involved one relinquished rental house and one replacement rental house.   
    1. I need to file two 8824 forms, one for each exchange, correct? 
    2. Should I link the exchange to the Schedule E of the relinquished property (in Turbo Tax)?  My apologies for a silly question - what is the use case or reason to link the exchange to schedule E, schedule D, form 8435, or other schedules?
  2. The third exchange involved three relinquishes properties (one rental farm, two rental houses) and three replacement properties (all rental houses). 
    1. I need to file a SUMMARY 8824, and attach my own statement for each pair of the relinquished property and replacement property, with information as close as those on a 8824: Summary 8824.png
    2. As I need to attach my own statements, the only filing option for me is to paper file my 2021 return.  Correct?
    3. I need to specify in each statement to link it to Schedule E of the relinquished property for the two pairs where the relinquished property is a rental house; specify in the statement to link to Form 4835 where the relinquished property is a rental farm? Correct?

I really appreciate all the responses!

Lily