A like-kind exchange begins with entering information in the following manner:
- From the screen Your income and expenses (which you access by selecting Wages & Income from the left margin)
- Scroll down to Other Business Situations.
- Click on the Show more drop-down arrow if necessary to reveal the options.
- Select Start across from Sale of Business Property.
- On the screens that follow, you should see an option to select like-kind exchanges.
- Continue to enter your information
- You should see screens such as Sales of Other Business Property, Total Gross Proceeds, and these screens may not relate to your tax situation. If they do not, then select No, Continue, or Done as appropriate.
- On the screen Like-Kind Exchanges is where you can enter the information about your replacement property.
@marjeanb
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