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I want to sell rental property I acquired thru 1031 exchange, how do i figure the tax due on sale of the property?

Either seek local professional assistance or upgrade to the LIVE version to get this complicated section done correctly ... If you really do owe that much to the feds & states and you have not paid it in advance with extensions then the penalties and interest are adding up daily and you need to file the returns asap. 

I want to sell rental property I acquired thru 1031 exchange, how do i figure the tax due on sale of the property?

I tracked down the Fed payment. The sale of the house invoked a 4797, which invoked an Unrecaptured Section 1250 Gains which calculated the Fed tax owed instead of using the 1040-SR l Taxable Income line11b.

 

Off to look at OR and CA.

I think CA is $0, since they shuffled off 3.33% of the gross sales price of the home.

I think OR will probably be the missed tax from the boot from the sale of the house, in 2012, that I used to purchase the one I just sold.

 

Once I understand it better I will look into either a local tax professional or LIVE. I just need to know why and what is happening, first. I have been stung by "professionals" and support personnel in the past.

 

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