I sold an investment property that I was 50% owner of and used a 1031 exchange. We then purchased another property together. How do I answer the questions on the like-kind exchange? Do I only enter 50% of the sale info and the purchase info of the new property?
Hopefully, the closing agent (1031 Qualified Intermediary) provided the appropriate tax (and other) documentation for the transaction.
Regardless, you will use 50% for reporting purposes provided, of course, that you each held title in your individual names (i.e., this needs to be reported at the entity level if you have a partnership, LLC, et al).
Yes, you would only report your share (50%) of the sale and the purchase of the new property in TurboTax. If you have additional questions in regards to your 1031 exchange, here is a link to IRS's Form 8824 Instructions.
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