I have sold my single-family rental property thru IRS 1031 Exchange process; and purchased a single-family rental property (like-kind) within 45 days.
Turbo Tax Premier desktop is asking me to complete the subject Smart Worksheet for the UNlike Kind Property, which I do not have. As a result, I have error message on Form 8824.
How do I workaround removing the error message?
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Go back through your entries and make sure that you did not put an entry in the wrong box.
I went ahead and reviewed all entries required on Form 8824 based on my situation. I entered using the help on Form 8824 to make sure I am entering the data correctly.
After reviewing for the 3rd time, there is still an error - asking me to complete UNlike-kind property given up. I do not have UNlike property. Only like-kind property given-up (single family rental property).
Complete the unlike kind property worksheet and enter zero for any values. I'm not sure where the error is generating from but since you didn't have any unlike kind property in the trade this shouldn't effect the return.
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