1031 Exchange where one rental exchanged for two new ones. Can I put all on same 8824?

Forum|Forum|6 years ago
April 2, 2020
10 replies
87 views

Cx did 1031 exchange through intermediary and I want to prepare 8824. I have reviewed the Proseries article "1040: Completing a Like-Kind Exchange of Business Property (1031 exchange)". Guidance works for me.

I just want to include the trade on one 8824, I think I can do this if the same type of property was relinquished and acquired. One rental home traded for two DST rental units. Is that okay? Then I will create 4 new assets I believe.

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Best answer by abctax55

Yes. You need to attach a schedule detailing the necessary details property by property. I do it in excel.

Just-Lisa-Now-

Intuit Community Champion

I had a 1 for 4 back in 2017...thats how I did it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

S

SHELL8802667

Level 2

Hi, How did you do 1 rental sales exchange for 2 or more rentals on proseries basic version?

Apprciate your reply soon.

Shelley

sjrcpa

Level 15

Follow the guidance the others gave as answers last year.

The more I know the more I don’t know.

abctax55Answer

Level 15

Yes. You need to attach a schedule detailing the necessary details property by property. I do it in excel.

HumanKind... Be Both

G

Giraffes5gbAuthor

Level 3

Great! That works! I appreciate it!!

P

ptax255

Level 6

Does anyone have an exel worksheet statement they'd like to share? I have a one for 3 this year. Is it better to do multiple 8824 so the basis for each replacement property is calculated correctly? Thank you.