How do I enter multiple replacement properties on form 8824?

[sgsingh310]

In 2022 I sold one rental property and transferred the funds in to a QI(1031 Exchange) . During the allotted time, I identified and purchased 5 properties  (replacement properties). I understand that I have to report this transaction via form 8824; however, it is only allowing me to enter one replacement property.  Is there a remedy to correct this?

[AmyC]

Yes. You must do an 8824 for each house you purchased and pro-rate the one you sold between them. If you need help in determining the basis for the new properties, you can see another post of mine here.

Fair warning -

There are two ways to handle depreciation after a 1031. Turbo Tax only handles one method, the single schedule depreciation. It is simple, you take your new adjusted basis, begin depreciation fresh on the new property based on the type of property. The 5 new buildings could have different depreciation schedules, for example, commercial vs rental.