1031 Exchange

[Laszlo]

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?

[George4Tacks]

https://proconnect.intuit.com/community/form-8949/help/entering-a-bulk-sale-of-assets-in-lacerte/00/...

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. 

https://proconnect.intuit.com/community/individual/help/using-the-like-kind-exchange-wizard-for-exch...

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. 

[Laszlo]

This response does not help with my problem.

It discusses using form 8949 not 8824 connected to screen 22 "like exchange wizard"

[George4Tacks]

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