George4Tacks
Level 15
11-03-2021
02:06 PM
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The wizard can be tedious and you really should have all the numbers worked out before hand, just to be sure you get the correct result.
There are various 1031 exchange worksheets available. I use Tax Tools. From the worksheet, getting the wizard work has always been straightforward for me.
https://proconnect.intuit.com/community/federal-taxes/help/how-do-i-enter-a-like-kind-exchange-in-th... gives everything you should need, but like I said in the beginning - it is tricky.
The 8824 does need to show both properties. If you used the wizard many of the questions asked are answered on that link.
Answers are easy. Questions are hard!