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New Member
posted Apr 20, 2025 2:52:04 PM

Like Kind Exchange generating a gain

I have a valid gain deferral on a like kind exchange (all dates are okay, etc)  But when I enter the sale of the asset under the rental and royalty section as a sold asset, it generates a gain.  There is no place to tell it it's a like kind exchange in this section of TurboTax.  I understand I have to enter under the sales of business assets to generate the 8824 but how do I enter no gain in the rental section of Turbo Tax?  

 

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2 Replies
Expert Alumni
Apr 29, 2025 12:06:50 PM

The sale price and the basis should match when you enter the sale so that no gain is generated.

 

@RehbergW 

New Member
May 1, 2025 9:53:36 AM

Thx