Deductions & credits

If you are making some sort of attempt to report this transaction as a like-kind exchange, it will not work unless you followed the procedures outline in the Code (and then enter the transaction accordingly in TurboTax).

 

Section 1031 and the regulations promulgated thereunder have strict requirements.

 

See https://www.irs.gov/instructions/i8824#en_US_2021_publink12597kd0e140

View solution in original post