1031Me
Returning Member

How to move carryover loss from old property to new property after 1031 exchange?

In 2018 I exchanged a property for another property thru 1031 exchange.

 

This year, the old property's unallowed loss is listed separately from the new property.

 

First question: Do I need to add this loss to the new property and get rid of the other property in the tax forms, or do I leave it the way it is and TurboTax will continue to use (accumulate) the losses in the future?

 

Second question: If I do add it to the new property, where do I do that?

 

Thanks for your help.