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Level 3
posted Sep 29, 2019 10:57:31 PM

I am getting error messages on form 8824 under the unlike kind property given up worksheet and cannot figure out why as I have entered nothing there.

0 5 1187
5 Replies
Level 15
Sep 30, 2019 8:35:58 AM

In a nutshell, if the fair market value of the like-kind property you received is less than the fair market value of the property you gave up, then the program will be looking for boot (property/cash/note/something-of-value you received to make up the difference).

 

If you do not enter the the "different" property as an equalizer, then the program will either through an error or not allow you to proceed. It would be helpful if you posted the figures for your exchange (even if they are hypothetical figures) here so we can determine if there is an input or software error.

 

If you need further assistance entering this transaction you should contact Support (link below) during regular business hours. 

 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

Level 3
Sep 30, 2019 5:23:34 PM

Thanks, I figured it out after talking to the turbo tax expert for quite while. She was stumped.  Finally I deleted the zero for some reason I had put in the unlike kind line in the smart worksheet above and like magic the error messages all went away. The program doesn't recognize 0 as none.  I thought I had tried that before and actually put a 0 there to try to get rid of the error messages, but anyway  problem is solved.  I have another questions about the 8824 I will post separately, maybe you can help me with that. This year is rather difficult for me. 

New Member
Oct 10, 2020 1:58:58 PM

Oh, my goodness, thank you! Was also spinning my wheels trying to figure out the error. Went back and deleted all entries of a zero '0' and the error went away.

Onwards and upwards.

Level 15
Oct 10, 2020 2:50:25 PM

Zero  is not a valid entry in the program especially as a "placeholder" ... if you were using the downloaded program switching to the FORMS mode would have made figuring this out easier.  

New Member
Apr 9, 2022 11:28:08 AM

I am having difficulty with Form 8824: Line L in Summary Smart Worksheet cannot accept 0. I cannot delete it either. This error is preventing me from progress further. Filling Unlike-kind property given up section does not make difference for me.