I have a similar situation of a partial 1031 that also straddles two tax years, as the replacement property (FMV 142,972 subject to 65,000 liabilities) wasn't purchased until 2021.  The relinquished property had a FMV of 213,500 (adjusted basis 92,149) and liabilities 71,333.  I know the realized gain is 105,297 (and the 8824 Smart Worksheet gives me this correct answer).  However the recognized gain should be the change in equity 48,141 (213,500-77,333) less (142,972-65,000).  I haven't checked the smart worksheet box T to report the partial sale (vs exchange) in 2021 when the final proceeds were disbursed by the intermediary and the replacement property closed, because I wanted to see if the program would come up with the correct amount of the "recognized gain."  It doesn't and I'm confused as to how to actually enter the amounts into the program to get the correct recognized gain and excess basis in the replacement property.  I've looked at many other threads and everyone seems to stop short of actually explaining what amounts to put in which lines of the smart worksheet.  I'm guessing I'll have to work it manually into the form?