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On screen 22 I am trying to process 1031 Exchange of real estate. with the 8824 "Like Exchange Wizard".
The program does not calculate Capital Gains and Depreciated value and does not create a transfer value to new property. There is no place to input sale price of sold property.
Is there a way to show 1031 exchange of 1 property into 4 new ones?
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should help you to find the sales price (steps 5 & 6)
For 1 to many or many to not the same number you need to attach a statement to show details. Personally I create a spreadsheet to calculate all the proportionate numbers.
SUGGESTION: do a backup before each attempt at this process.
I hope you are billing well for this very time consuming process. I may be easier to just NOT use the wizard and enter the exchange through the dispositions screen. I use TaxTools to create the exchange worksheet numbers, but there are many online tools that do the same thing.
Here's wishing you many Happy Returns
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This response does not help with my problem.
It discusses using form 8949 not 8824 connected to screen 22 "like exchange wizard"
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How about one with a video? https://proconnect.intuit.com/community/form-8949/help/how-do-i-enter-a-like-kind-exchange-section-1...
https://proconnect.intuit.com/community/federal-taxes/help/entering-a-like-kind-exchange/00/3634
Here's wishing you many Happy Returns