I had a real estate investment that was acquired thru a 721 exchange by an operating partnership. Can i use TT to report this. Is there a tax expert who can help? thanks.

[corbi]

I am willing to work with and pay a person knowledgeable in these type of transactions.

[RobertB4444]

You need to fill out form 8824 to report your exchange.  Enter 'Like Kind' into the search box then click the 'jump tp' link that appears and follow the prompts.

Here is some extra info.

If you're feeling nervous about this and looking for some peace of mind you should consult a tax professional in your area that specializes in like kind exchanges.  But you should be able to enter the whole thing into TurboTax with no problem.

[corbi]

Thank you for your answer. A 721,exchange is a different kind of transaction  than a like-kind exchange. Are you indicating that hey are reported the same way?

[RobertB4444]

@corbi  A 721 exchange is different from a 1031 exchange but they are both like kind exchanges and both reported on the same 8824 form, yes.  In your case you have exchanged real estate for an equivalent interest in a real estate investment trust.  The IRS considers both of these investments to be like kind.

[corbi]

Thanks I will engage full service the first time to see how reporting works