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- Re: 1031 Exchange 1to 3 Properties
1031 Exchange 1to 3 Properties
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Molnar
Level 1
07-29-2021
02:08 PM
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In Lacerte where and how do you enter a 1031 Like-Kind Exchange 1 property to 3 properties?
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George4Tacks
Level 15
07-29-2021
02:17 PM
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From the instructions for 8824
Multiple exchanges.
If you made more than one like-kind exchange, you can file a summary on one Form 8824 and attach your own statement showing all the information requested on Form 8824 for each exchange. Include your name and identifying number at the top of each page of the statement. On the summary Form 8824, enter only your name and identifying number, "Summary" on line 1, the total recognized gain from all exchanges on line 23, and the total basis of all like-kind property received on line 25.
https://proconnect.intuit.com/community/individual/help/using-the-like-kind-exchange-wizard-for-exch... is not a lot of help. You need to state the replacement property is "see attached" and use the Notes section to create the attachment, or use a pdf attachment for the explanation of the 3 new properties.
Here's wishing you many Happy Returns
