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Investors & landlords
@gdstuart1 wrote:
OK, so I'll enter them in a separate Asset Worksheet. I decided to code them as F - Rental Furnishings. But what does the 1031 status have to do with this?
I am not sure what you are asking or, rather, why.
My point was simply that the TCJA eliminated personal property as a candidate for 1031 treatment, which left only real property as property qualifying for like-kind exchanges.
Of course, you can depreciate the personal property or even expense the assets if they qualify.
March 25, 2022
11:07 AM