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Investors & landlords
If you did the complete 1031 during 2021 and filed the 8824 with all information, you do not need to complete the 8824 again.
There are two ways to handle a 1031 exchange but Turbo Tax only handles one method. You will need to enter the new rental property and use your new basis, purchase + deferred gain. Be sure you have complete records of your old rental property in case of an audit someday. Then you can delete the old property.
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‎February 6, 2023
3:48 PM