You can delete Form 4797 to get rid of that entry, but once you do that, you need to review the information that you entered about your 1031 exchange before you file.
If you are using TurboTax Online:
- From inside the return, scroll down to Tax Tools on the bottom of the left side menu.
- Select Tools.
- Click on Delete a form (third on the list at the bottom of the screen).
- Find Form 4797 on the list of forms.
- Click Delete to the right.
- Confirm your Delete.
If you are using the Desktop version (disc or download):
- Click Forms toward the upper right corner.
- Find Form 4797 on the list on the left.
- Highlight it, then click Delete in the lower left corner of the reading pane.
- Click on Step by Step in the upper right corner to return to the interview.
Click here for information about reporting your 1031 exchange.
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