You'll need to go in and correct the information you previously entered.
To edit your Section 1031 information TurboTax Online:
- If you don’t see 2022 TAXES in the left pane, select the dropdown to the right of Income & Expenses on the Hi, let’s keep working on your taxes! page and then select Let’s get started, Pick up where you left off, or Review/Edit.
- Otherwise, in the left pane, select Federal, then Wages & Income (This is labelled Income & Expenses in TurboTax Self-Employed)
- Scroll down and select the Show more dropdown to the right of Other Business Situations
- Select Revisit to the right of Sale of Business Property
- On the Any Other Property Sales? screen, you most likely have the Any additional like-kind exchanges (section 1031) box checked
- Unchecking the box won't change what you've input. Leave the box checked and select Continue
- On the Like-Kind Exchanges screen, select Edit to the right of your exchange item
- From here, you can correct any information previously entered.
