Deferred gains entry

[MoAnn]

Did 1031 exchange on property (A) to purchase property (B) and deferred capital gain of $10,000. Sold property (B). Where do I enter the original deferred gain of $10.000?

[tagteam]

Start with Form 8824.

[MoAnn]

Not quite the answer that I was looking for. After I input all of the information on the sale of Property (B) Form 4797 was generated. Do I add the 10,000 to gross sales on  line 20?

[tagteam]

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@MoAnn wrote:

Not quite the answer that I was looking for. After I input all of the information on the sale of Property (B) Form 4797 was generated.......

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Not quite the way you report a 1031 exchange unless something strange occurred.

Like-Kind (1031) exchanges are reported on Form 8824.

See https://www.irs.gov/instructions/i8824

[tagteam]

You should see a section during the TurboTax interview where you can indicate that you did a 1031 exchange.

[tagteam]

Sale of Business Property (check the box):