Yes, all the proceeds from the sale were used in the exchange. On form 8824 line 23, my recognized gain is zero. Line 24 shows my deferred gain as $53,000. However, for some reason, TT has filled out form 4797 for this same property, showing a capital gain of $63,000. Is it correct that form 4797 should not have been filled out for this property, since it had already been reported as a deferred gain on 8824?
