@Carl - Yes, got those. It's still carried over, meaning I still have loss.
BTW, this is a 1031 exchange, so last year TurboTax understands this and summed the 2 losses up as 2 line items: $10k from old property, and $500 from new property.
What I am not sure about is: what should I do *this* year for the old property. Obviously I no longer own that property, so I should really delete that from rental income. However, I see that the carryover losses are still attached to each property A and B. Turbotax does not seem to "know" to combine this after last year 1031 exchange filing.
What should I do?
a. Leave the old property A alone - but enter $0 for all income, expenses, etc. just so I have the carryover loss listed
b. Delete the old property A - but I will only have $500 carryover from the new property last year, when it really should be $10500.
If I do (b), I saw the above you can enter the actual total carryover loss manually, but is this the correct thing to do?? Is there not a way for Turbotax to do this automatically so I know it is legit?
Thanks!
