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Get your taxes done using TurboTax
I sold one and bought two, and I'm using TT online. I set up the two new properties in Rents/Royalties, but once I get through the 1031 interview it won't allow me to link to both properties in R/R. I'm seeing TT won't support that. I assume I need to link them for TT to generate basis/depreciation correctly?
Both new properties are identical (purchase date/seller/...) in every way...can I simplify this issue by combining them in R/R, as though they were one property? Is there any legal reason I can't do this to solve TT inability to support the 1 for 2 issues? I know if I separate them later it will be more of a hassle, but I need to end this TT nightmare.
‎April 8, 2022
12:46 PM