I need to know how to report the sale of a rental property bought in a like kind (1031) exchange. I sold the original rental property about 14 years ago, and with the proceeds bought two more. In 2017, I sold one of the two. Where and how in TT do I report that?
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If you entered the like-kind exchange previously in TurboTax and set up the new properties with an Adjusted Basis (to defer gain from the exchange), there is no additional steps you need to take when you sell these properties.
In the Rental section, here's how to report the Sale of Rental Property.
If not, click this link for info on How to Enter a Like Kind Exchange.
[Edited 03/23/2020 | 7:56 PM]
If you entered the like-kind exchange previously in TurboTax and set up the new properties with an Adjusted Basis (to defer gain from the exchange), there is no additional steps you need to take when you sell these properties.
In the Rental section, here's how to report the Sale of Rental Property.
If not, click this link for info on How to Enter a Like Kind Exchange.
[Edited 03/23/2020 | 7:56 PM]
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