So I had two duplexes each under a different LLC. I rented them up till point of sale, one in June and the other in July. Each were entered into their own 1031 Exchange with a qualified intermediary. On the first property I bought two like-kind properties, with a small amount of money left over as "boot". On the other property I sold and had put into a 1031 exchange, I decided to NOT buy any more properties but keep the entire amount, less the exchange fee, as BOOT...I realize I will have some hefty capital gains on that one. But as I enter the data in Turbo Tax for 2021, how do I enter the data for both properties such as the income I received as well as all the expenses, up until I sold them...Because as I enter the data, Turbo Tax asks if you sold the property. Does Turbo Tax handle this kind complexity? For example if I say "yes, I sold the property" does it then say "Did you sell as a part of an 1031 Exchange" but still take into account everything associated with the property up till the sale? Or do I just jump to the 1031 Exchange form and answer all the questions.? Thanks
