Thank you for so much for the quick response. I think I somewhat understand what you said, but not sure how to do it with Turbo tax.
1. I want to confirm, when you explained me the steps, did you picture the steps in Form 8824? or mixed with Form Model and UI Model? With UI Model, I went to Sale of Business Property ->Any Other Property Sales-> Selected Any additional Like-Kind exchange (Section 1031)-> Entered information of Real Estate give up ->Entered one newly property received ->Answered no to Related party->Answered no to different property give-up ->Answered no to Different Property receive ->Entered Exchange expense ->You Like-Kind exchange result->new property basis : entered prorated property basis after calculation. At this point, I anticipate Turbo tax ask me question like did you purchase another like-kind property, but this kind of question never prompt
2. Per IRS : "
Reporting of multi-asset exchanges.
If you transferred and received (a) more than one group of like-kind properties, or (b) cash or other (non-like-kind) property, don't complete lines 12 through 18 of Form 8824. Instead, attach your own statement showing how you figured the realized and recognized gain, and enter the correct amount on lines 19 through 25. Report any recognized gains on your Schedule D (Form 1040); Form 4797, Sales of Business Property; or Form 6252, Installment Sale Income, whichever applies." My question is how I can attach my own statement with Turbo Tax
3. Additional information, the transactions of the two like-kind were end of December, so the two rental houses did find renters, so I did not enter information of these two rentals at Rental Properties and Royalties section.
Thanks
