Jenn70
Level 1
‎03-31-2023 03:55 PM

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.

 

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sjrcpa
Level 15
‎03-31-2023 04:07 PM

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.


The more I know the more I don’t know.
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abctax55
Level 15
‎03-31-2023 04:10 PM

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

 

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sjrcpa
Level 15
‎03-31-2023 05:39 PM

So my memory was correct.

I thought you would know Anna.


The more I know the more I don’t know.
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abctax55
Level 15
‎03-31-2023 05:52 PM

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

HumanKind... Be Both
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