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Tax reporting 1031 property donated to a charitable trust
We had a 1031 Exchange rental property which we donated/transferred to a charitable trust as a 1031 exchange. The property was then sold (we handled that) so the charitable trust actually received cash from the sale. It sold for less than the appraised market value. How do we report this transaction since the exchange was not to another property. Questions in TurboTax seem to be for property exchanges only.
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‎February 17, 2021
2:57 PM