1031 exchange that overlaps 2 years

[DL2]

i have a client that sold property on 12-31-20 and did a 1031 exchange that was completed on 2-15-2021.  i am filing a 1065X showing the exchange but Lacerte will not generate the 8824 on the 2020 return.  i have entered thru the wizard and it did set up the new asset on the 2021 depreciation schedule but per IRS the 8824 should be included with the 2020 return.

have i missed something??

[abctax55]

From clicking on the "where do I enter the sales date" blue link in the software.  Note the "MANDATORY" part.  Verify you do have the 12.31.20 sales date entered.

Depreciation Sale or Other Disposition of Property

The date sold input field is located within the General Disposition Information section. It is a MANDATORY input for all dispositions

[George4Tacks]

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.