lucanadeau
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So, in Turbo Tax, where do we report the basis (or gain) from the original property? I checked the box that said the sale was of a property acquired in a like-k...
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Yes, jmisiag, just go in and delete the property if you checked the sale of business property box. The glitch remains, but you can work around it by doing that,...
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Thank you - this was the issue. This appears to be a glitch in TT, because I tried unchecking the upper box, yet it kept those forms filled out - I had to keep ...
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Yes, all the proceeds from the sale were used in the exchange. On form 8824 line 23, my recognized gain is zero. Line 24 shows my deferred gain as $53,000. Howe...
Activity Feed for lucanadeau
- Posted So, in Turbo Tax, where do we report the basis (or gain)... on Deductions & credits. June 7, 2019 3:45 PM
- Posted Yes, jmisiag, just go in and delete the property if you c... on Deductions & credits. May 31, 2019 5:32 PM
- Posted Thank you - this was the issue. This appears to be a glit... on Deductions & credits. May 31, 2019 5:32 PM
- Posted Yes, all the proceeds from the sale were used in the exch... on Deductions & credits. May 31, 2019 5:31 PM
- Posted I'm doing a 1031 exchange. TT populated form 8824 and told me I had a deferred gain that was not taxable this year, so why is it shown as a taxable gain on sch D line 11? on Deductions & credits. May 31, 2019 5:31 PM