I did a 1031 exchange of rental properties. I paid off the mortgage on the sold property $22,000.
The worksheet asks for "The value of the mortgages / loans transferred or paid off as part of the sale" The loan pay off was $22,000
In the Line 15 Calculations Smart Worksheet - the $22,000 also appears under Line D "Mortgage assumed by the other party"
I just paid off the $22,000 mortgage when I sold. It didn't transfer to the person who bought the first house.
How do I remove the assumed by the other party entry?
