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wuzner
New Member

Need to edit expenses on like kind exchange form but I can't get to it. I get to the 'edit' button but then it doesn't take me to a page where the expenses were entered.

 
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1 Reply
VictoriaD75
Expert Alumni

Need to edit expenses on like kind exchange form but I can't get to it. I get to the 'edit' button but then it doesn't take me to a page where the expenses were entered.

These transactions are reported on Form 8824. To complete this form, follow these steps in TurboTax Desktop Editions (screens will change slightly for online editions):

  1. Under the Federal menu, choose Wages & Income
  2. Review the menu for Business Items
  3. Select Start/Update next to Sale of Business Property
  4. On the Any Other Property Sales? screen, check the Any additional like-kind exchanges box and select Continue.
  5. Answer Yes on the Like-Kind Exchanges screen and follow the instructions.

You will come to an entry for exchange expenses. Enter any sales expenses you paid as part of this exchange - Sales expenses include the following:

 - Sales commissions
 - Advertising expenses
 - Legal fees
 - Loan charges paid by the seller, such as loan placement fees or points
 - Broker fees
 - Transfer taxes
 - Option premiums

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