michele
Level 7
05-27-2021
03:55 PM
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I have a 1031 real estate exchange that the proerty given up was sold on 12/28/2020 and the new property was acquired on 1/08/ 2021. Will I have to wait to show this for the 2021 tax return if so how do I handle the sale of the property or will the program allow this on 2020 or 2021 to due the like kind with different years. Right now I am getting a critical but is has to do with the property given up was aquired 3 months earlier in a like kind. This will qualify as investment property as undeveloped commercial parcel. I hope i can override as it does qualify
thx
Michele
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