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1031 exchange for interest in Several Rental Units

ldicpa
Level 1

Client traded a rental for interests in several rental units. I can't figure out how to repiort this in Lacerte. Any suggestions?

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G4Trax
Level 3

You will have to create an attachment to show the one for many 1031.  The input in Screen 17 for Multi-Asset Exchanges is used to create summary numbers for your attachment. This link might help https://accountants-community.intuit.com/articles/1607474-using-the-like-kind-exchange-wizard-for-ex...

FYI - In the future pick Lacerte as your topic and will end up with more responses in a much more legible "old" forum. 

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4 Comments 4
G4Trax
Level 3

You will have to create an attachment to show the one for many 1031.  The input in Screen 17 for Multi-Asset Exchanges is used to create summary numbers for your attachment. This link might help https://accountants-community.intuit.com/articles/1607474-using-the-like-kind-exchange-wizard-for-ex...

FYI - In the future pick Lacerte as your topic and will end up with more responses in a much more legible "old" forum. 

ldicpa
Level 1

Thank you George 4 .

Very helpful.

 

Larry

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Molnar
Level 1

In Lacerte how/where do you enter 1031 exchange 1 property into 3?

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George4Tacks
Level 15