Sales are reported in the year of sale. You will need to figure an appropriate allocation of each sale to each purchase. Not an easy task. Two sales = 651,200 and purchases = 645,000 so it would seem that there may be some gain to report. First sale=251.200/651,000 sets up a percentage to apply to subsequent purchases. You need to figure out the two exchanges at the same time, but report the 2020 sale now and hold on to the paperwork for next year's sales on the 2021 return. Be sure to charge for both now, so the client doesn't skip on down the road next year and use your work that you didn't get paid for. This will take some time. You will need to attach a worksheet to the return to show the one for many and the two for some

Have fun from here on it. 

FYI - https://proconnect.intuit.com/community/practice-advice/discussion/1031-exchange-reporting/01/73345#...