turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

susanstump
Returning Member

Can some one help with a possible related party 1031 exchange question?

trying to file form 8824 line 7 and 8, related party in a 1031 "like-kind exchange"  I sold an investment property for $30,000 the proceeds went directly to an accredited exchange company. I met all the date requirements,  I purchased property from my sister at FMV  that meets all the requirements for the "like-kind exchange"  and used the money placed in the exchange and an additional $370,000 to pay her for the property.  Is this a related party exchange?  and if so, her tax consultant has told her that it is not and that she does not have to supply her  social security number.  So how do I complete that section of line 8 where it asks for her SS# if she will not supply her SS#?  As far as the tax program, she is refusing to supply ss#.  How do I put that into my form 8824 so I can e-file it, right now when the field for the s# is left blank, the field is red and the program will not accept it.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Can some one help with a possible related party 1031 exchange question?

your sister is a related party, period.....don't know what her consultant is thinking and she has to give her ssn or she is violating the law....talk to the exchange company.

susanstump
Returning Member

Can some one help with a possible related party 1031 exchange question?

Thank you, we too thought it pretty cut and dry.  

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies