There seems to be only one relinquished property for one replacement property areas to input the sale/purchase amounts.
Since 2 properties were on one side of the exchange, you would manually add the information for the two properties acquired. The values that make the exchange tax free, would be the combined values of the properties acquired. You would need to do this in Turbo Tax Premier.
Thank you. Do I also input the 2 properties' addresses together in the same field for identification purposes?
How do I enter a multi-asset 1031 Exchange on TurboTax? I sold 1 rental property in late 2016 and closed on 3 rental properties in early 2017.
After I enter in the new property and then put in that I acquired it through a like kind exchange --> Turbo Tax asks for Last year's depreciation schedule of the property I gave up, the basis of new property and Like-kind exchange tax forms.
How do I handle it if I sold 1 property and then bought 3? The 3 cost slightly more so I added some cash at closing.
How do I input the sale of a rental property in a 1031 Exchange where the relinquished property is exchanged with two replacement properties? Can this be done in any version of TurboTax?
@swisssuefox A like-kind exchange for multiple properties is not supported in TurboTax; however, some users are able to report this correctly.
Click this link for detailed info on Like Kind Exchange with Multiple Properties.
More info is contained in this link on Exchanging Multiple Properties.