mw29
Level 2

Deductions & credits

Hi @Anonymous_ , @herbtanz  - I am trying to enter these 2 depreciation schedules, however, running into issue with what 'date placed in service' (line 3) I need to put in for the relinquished property.

 

If I put in the actual/real date it was first rented (in my case it's 07/31/2007), then I get an error in this form, saying the "Date placed in service cannot be before relinquished date". This matches with the instructions in https://proconnect.intuit.com/community/individual/help/1040-completing-a-like-kind-exchange-of-busi....

 

However, if I put in the sold/exchange date (in my case it was 3/22/2019), I end up with $0 depreciation. I think it's because on line 61 a and b both asks about the dates: a. Date placed in service of relinquished property, which is 2007 in my case, and then b. Date of disposition of relinquished property, which is the 3/22/2019.

Help please...