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posted Jun 1, 2019 9:39:56 AM

After entering like kind data, do I go back to the rental (relinquished) property and check the box as sold this year?

Income and expenses have been entered for the rental properties both before and after a 1031 exchange. Do I need to go back now and answer the box that says "did you sell this property this year" or something like that. So far, I've left it blank.

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Level 15
Jun 1, 2019 9:39:57 AM

You did not sell the relinquished property -- you exchanged it. As part of the details you fill out for the 1031 exchange, you include the adjusted basis, accumulated depreciation, etc.   I am hoping you used a Qualified Intermediary ( QI ) because the QI final report would include all of these details.

If you exchanged by yourself -- a simultaneous event, you perhaps should consider using a professional tax person ( familiar with 1031 like kind exchange) -- could be big headache  else.

I have multiple 1031s with QI