JamesG1
Expert Alumni

Business & farm

The sale of the business portion of the property may be reported under Sale of Business Property.

 

  • Down the left side of the screen, click  Federal.
  • Down the left side of the screen, click Wages & Income.
  • Scroll down to Other Business Situations.  Click Show more.
  • To the right of Sale of Business Property, click Start / Revisit.

At the screen Any Other Property Sales, you may select Any additional like-kind exchanges if the trade will qualify for that treatment.

 

At the screen Sales of Business or Rental Property, enter Depreciation taken on this property.

 

See information here and here concerning like-kind exchanges and the qualified intermediary to oversee the transaction.

 

[Edited 3/21/2023 | 8:01 am PST]

 

@stwek

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