Level 20
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Investors & landlords

@Lee11 wrote:
You also have no basis for depreciation of this property.' Is there a bug in the software?

That is possible but it is more likely that the program simply does not have the requisite information to provide a detailed and correct response (as opposed to the canned response). 


Regardless, if you are using a desktop version of TurboTax, and you should be if you have a 1031 exchange to report, then ignore the Step-by-Step language and concentrate on what is entered on your Form 8824.