Like kind exchange

[Jim-Thompson]

How to COMPLETELY report rental Like Kind Exchange.

[Anonymous]

what version are you using? some don't support 1031 reporting

[Jim-Thompson]

I used TT Deluxe for 2018 filing, and using 2019 version of Deluxe for 2019 filing.  I think there may be some sort of mistake with my 2018 filing, because after importing the 2018 return and beginning to enter 2019 data, I discovered that the property that I "relinquished" (i.e. gave up) still appears in my Rental and Royalty Summary, as does the replacement property.  As the exchange was consummated in November 2018, I expected that the relinquished property would be "gone."  I'm aware that there are 2 ways to treat depreciation in this situation where one residential rental property has been replaced by another of like kind.  I thought that I was using the method whereby the replacement property is treated as new property, and its depreciable basis somehow incorporates depreciation already taken on the relinquished property.  Hence I was surprised to see the relinquished property still "on the books" so to speak.