1031 Exchanges

[sreenivas]

I sold a rental property in 2021 via 1031 Exchange, for around $500k using a Qualified Intermediary (QI), and replaced it with one property in 2021 (for approximaltey $250k) and anothrer one in  early 2022 (for the remining $250k), within the 180-day time frame.  I am using Turbotax Premier, and my questiions are:

1. Do I use a single Form 8824 to report all this?

2. Do I report both transactions as having occirred in 2021, the year I sold my earlier rental property?

3. Form 8824 does not seem to allow me report both PURCHASES in the same form--- should I file 2 Forms 8824 with the same sale reported on both?

               I wuld appreciate any helpsuggestions. Thanks 

[Mike9241]

the exclusion should apply for AMT purposes.  look at the home sale worksheet and form 6251 to see why there is a taxable gain for amt.  you do need to enter the AMT depreciation 

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