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1031 Exchange question
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jerry
Level 7
02-27-2022
11:11 PM
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This is my 1st 1031 exchange in Lacerte, for an apartment to vacation home exchange (yeah, I know about RP 2008-16; that's not the issue here) mid year in 2021.
I have 2 assets on Schedule E, the given up property, and the acquired property. Each has income and expense associated with it.
I used the 1031 wizard, and all is cool with the boot (I didn't use the simplified method), except all the depreciation still shows up on Schedule E for the old property, not for the new property being rented.
What am I missing?
Thanks!
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jerry
Level 7
03-01-2022
02:38 PM
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Help - anyone??!!
