The message from TurboTax that says "we can't file your return just yet because the government is still working on finishing up certain tax forms that are in your 2021 tax return. In the box below this message, it shows Form 8824 Like Kind Exchanges ---- Ready Soon.
What should I expect from this message?
Form 8824 will only be ready by 03/31/2022.
Please read this TurboTax page on the availibility of tax forms in TurboTax CD/Download.
Is this delay in form 8824 just a Turbo Tax issue? The current form 8824 (from IRS website and Turbo Tax documents) is dated 2021. I don't understand what the government is going to do since the form is recently dated. No one from the qualified exchange office I used has heard of the delay.
The form being available, and removed from draft, does not necessarily mean the IRS is ready to accept it through e-file. There have been unprecedented changes over the last two tax seasons for everyone. Currently the like-kind exchange, Form 8824, has an availability date of March 31, 2022 for both mail and e-file.
Form 8824 is use to defer gain on the exchange of business or investment real property for real property of a like kind.
You have an option to prepare this form by hand if you want to paper file earlier. It will be an easier process to e-file if you wait.