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Level 3
July 26, 2024

1031 Exchange

  • July 26, 2024
  • 1 reply
  • 10 views

I am working on a return with a 1031 exchange of rental property.  One of the transfers was completed in 2023.  The other in 2024, but was identified in 2023, within the 1031 guidelines.  How do I set up the new properties on the 4562?  How do I allocate the basis from the original property that was exchanged?

Thanks for any help

1 reply

qbteachmt
Level 15
July 26, 2024

Partnership? Individual? Corporation?

ProSeries? ProConnect? Lacerte?

Did you google, for example:

ProSeries 1031 exchange

Don't yell at us; we're volunteers
jasieveAuthor
Level 3
July 26, 2024

It is a single owner LLC. I am looking at Pro Series 1031 exchange now.