Hi Rick. Think I figured it out. While the "Liabilities at Closing" number is not used in the Schedule E, it is used in the 8824 Tax Form for the Like-Kind Exchange. This number is usually the loan outstanding of the relinquished property and Turbo Tax prompts for the "Value of mortgages/loans transferred or paid off as part of sale" in the step by step process for a Like-Kind Exchange.
Thanks again, Think57
