mkcpa
Level 1
06-02-2020
01:51 PM
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I'm reporting a like kind exchange in 2019 of real property comprised of building and land. I keep getting a critical diagnostic message about the TCJA that exchanges after 12/31/17 are only allowed for real property held for investment. The message link takes me to the "Land" portion of the exchange. I can't figure out how to extinguish this message since land is definitely part of the exchanged property that was held for investment (for 11 years). Thank you.
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George4Tacks
Level 15
06-02-2020
02:12 PM
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It is just a warning to be sure you are NOT trying to do an exchange on a auto, or other Non RE property. Ignore it and go on.
Answers are easy. Questions are hard!
Answers are easy. Questions are hard!
mkcpa
Level 1
06-02-2020
03:06 PM
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Thank you!
Duane
Level 1
07-10-2020
07:38 PM
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This is still a problem as the Critical Diagnostic will not let your efile. There is a note that states that a property code needs to be input. Where is the hidden property code???
