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1031 Exchange
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LVSeltz
Level 2
04-04-2019
02:32 PM
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I am computing a 1031 exchange Rental Property for Rental Property. Receiving message ref #2050609 - Limited to exchanges of real property that are not primarly held for resale - not sure how to tell lacerte program it is not held for resale
thanks for any help
Ken
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1 Comment 1
IntuitKatieB
Moderator
04-05-2019
08:39 AM
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Hi Ken! Thanks for your question.
This diagnostic is information, as a "double-check" to make sure the exchange still qualifies as a 1031 exchange under TCJA. If you have confirmed that it does still qualify, you will just need to clear all other errors and disable error checking to send the return.
Here are instructions: https://accountants-community.intuit.com/articles/1607060-disabling-e-file-diagnostic-error-checking
