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1031 Exchange reporting

Level 1

When an exchange stars in one year and ends in another, How is it recorded?

Property Given 11/1/2019, New property identified on 12/13/2019, and new property received 1/9/2020.

Do you report the exchange in 2019 since it closed before the due date of the return?



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1 Comment 1
Level 15

Report in the year the §1031 started.

I create a "dummy" asset to hold the basis until the subsequent year.  You then have to add the date to start depreciation computing.

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