marytty
New Member

I sold a rental property in December 2015 as a 1031 exchange and filed 8824 with 2015 taxes. How does TT transfer basis, etc, to the new rental? Do I just delete the old?

I sold a rental property in December 2015 as a 1031 exchange, bought new property in January 2016, filed form 8824 with 2015 taxes, now for 2016, TT still has my old rental listed. Do I manually create the new rental for a schedule E and enter the like-kind basis manually? TT doesn't seem to have transferred any info on this from 2015 to 2016. the old rental is still listed. Do I just manually delete it?