If the transaction really WAS a §1031 exchange, just using Sch D won't defer the gain.

So, "technically" yes, you need to do the F 8824 in the year the exchange originated.

Just selling and buying another property in the same year isnt a 1031 exchange.  

If you have a true 1031, you should see some paperwork from the intermediary that handled the money for the exchange.

@Just-Lisa-Now- @abctax55 I think many taxpayers really do not understand the formalities, rules,  and complexities with this Exchange... They think they can just claim it and everything is okay...

@PATAX - I agree...but @SKukuryak is a tax professional right, since s/he is posting in a tax professional forum.  Correct???

thank you, that is what i was thinking, eventhou technically second sale waived 1031 benefits

1031 for the sale of first property and purchase of second property was done properly by authorized agency. paperwork all godd. so there was thue 1031 exchange. 

I'm too lazy to look it up but what holding period is used for the replacement property -- does "long term" get carried over to it?

holding period is a loop hole, there is no requirements in IRS publications, but suggested time is 12 month or until next tax filing. 

@abctax55  👍 I agree with you and ask the same question sometimes... See my response to the $600 donation post from today...🐕☝️