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Level 2
February 10, 2023
Question

Like kind exchange - info not transferring

I have finally managed to get to like kind exchange and enter the info on form 8824. But it is not transferring it anywhere into my return. I still have the little red flag by both form 8824 and 4797 and I have filled everything out.   This is after consulting tech support, talking to a turbo tax accountant, and start completely over filling everything out after 3 weeks of working on it.  What now? This is on TurboTax Premier, desktop operating on MacBook Air , OS Ventura 13.2

 

    2 replies

    AmyC
    Alumni - Intuit
    February 10, 2023

    You need to enter the new property into your return so it can begin depreciating. If it is a rental house, enter on sch E. If it is a business asset, enter the building there.

    If you need help with the basis or have other questions, take a look at another post of mine here.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
    marjeanbAuthor
    Level 2
    February 13, 2023

    I have already done tha. Apparently it is a glitch in their software for Macs and they won't have it fixed until the end of March. So I'm thinking about giving up on Turbotax and gong to a CPA. I need to know ahead of time if I am going to need money for taxes:(