You will most likely have to make entries in Forms Mode, but TurboTax Home & Business has the appropriate forms. Also note the unsupported calculations contained in the link below.
Like-Kind Exchanges (Form 8824): Any loss on other property given up shown on line 14 is
treated as either trade or business, or investment income depending on your entries in the smart
worksheet for Additional Information Regarding Unlike-kind Property Given Up. Losses on
personal use property, which must be limited to zero, are not supported. A "summary" Form
8824 is not automatically created when there is more than one Form 8824 in the tax return.
Multi-asset exchanges are not supported when lines 12 through 18 are left blank and the correct
amount is entered directly on line 19. Form 8824 does not provide for any differences for
alternative minimum tax (AMT) for gains reported on lines 14, 24, 35, and 36. Any AMT
differences for these lines must be entered directly on Form 6251. If an exchange with a related
party occurred in a prior year and the property has now been sold and line 24 must be reported
as taxable in the current year, you may need to make entries directly on Form 4797 to correctly
split the amount on line 24 of Form 8824 between ordinary income recapture and other
Yes the Turbo Tax Home and Business program is able to handle this information.
Here is a link that may assist you in reporting this exchange.
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