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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.
‎January 24, 2020
12:00 PM