can Turbo Tax handle ending rental on a 1031 Exchange?

[Ali2LA]

Stop rending property bought through 1031 exchange?

[pk · Accepted solution]

@Ali2LA  while I am not familiar with the exact screens of the on-line product, I know the desktop version has no issues with such a scenario --- what you are essentially describing is a conversion of  a rental property to primary /secondary home.  The issues encountered is not the conversion ( generally adjusting the basis &  carrying forward the accumulated  depreciation),  but at disposition of the asset ( re-capture, capital gain and exclusion of gain as  main residence ).

Is there more I can do for you ?

[Ali2LA]

Thank you, pk, for the explanation.  I will likely use online TurboTax and get at least the Expert Assisted version or probably have an Expert Full Service handle it because it was rather complicated when initially reporting the 1031 exchange.