Where / how to input a Sec 721 Upreit. This is a tax free purchase of an existing property in Sch E by a REIT, which now issues a K1. This is not a Sec 1031 exchange, but a Sec 721 Upreit.
Isn't it really a contribution to the REIT in exchange for an ownership interest?
Stop reporting as a rental property as of the date of transfer. For depreciation purposes, enter a disposition date but no sale price.
