Section 1031

[Jenn70]

I have a 1031 exchange where they sold one property and purchased two.  I have all work calculated and the deferred gain figured out but I cannot figure out how to get two properties recorded in Lacerte under one sale.

[sjrcpa]

As I recall you can't.

Going from memory - Fill out the form with totals and attach a statement with details about the 2 replacement properties.

[abctax55]

I do it in an excel spreadsheet then print to PDF, then attach.  

[sjrcpa]

So my memory was correct.

I thought you would know Anna.

[abctax55]

My favorite was a two for five properties. THAT spreadsheet was a work of art... well, maybe only if you are a tax preparer 😉