I sold one property and 1031 exchanged the money for TWO properties. I have been able to enter the info for 1 property but not the other. How can I enter for both?
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I sold one property and 1031 exchanged the money for TWO properties. I have been able to enter the info for 1 property but not the other. How can I enter for both?

 
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Level 15

I sold one property and 1031 exchanged the money for TWO properties. I have been able to enter the info for 1 property but not the other. How can I enter for both?

For the exchange you would add the two properties together and show it as one property.

Look at this as a whole transaction  of a single 1031 exchange ( for TurboTax  and  the acquisition of new property  purposes) as if you relinquished "single" property/ asset (which itself may have the character  of  single/multiple  residential units) and acquired  a "single" property/asset (which again may  have the character of single/multiple residential units).  But thereafter , you would still have to deal with the schedule  E- implementation of allocating  basis (both gain/loss and depreciable) and any carried forward  passive  losses to the new properties.



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