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Investors & landlords
You would begin to enter the exchange in the same manner as any other 1031 exchange in TurboTax, if that is indeed what you did (since you mentioned you "sold a rental property" - hopefully you did a proper exchange through a qualified intermediary).
In TurboTax, simply enter "like kind" in the search box, click "Jump to like kind", and then check the "Any additional like-kind exchanges (section 1031)" box.
Note that you can only defer gain when the value of the replacement property you acquire exceeds your basis in the property you relinquished.
‎February 23, 2020
3:51 PM
1,797 Views