Form 8824 one exchanged for 2 properties

Forum|Forum|4 years ago
March 31, 2022
2 replies
21 views

How do I report reliquishing one property for two? I recall being able to do this several years ago, but can't seem to find it on 2021 software. Do I need to rpoert the combined replacement property amounts on the form and then complete my own calculation to allocate the adjusted new properties basis between the two?

Thank you.

ProSeries Professional

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dkh

Level 15

Did taxpayer have a 1031 exchange for real estate? If yes, form 8824 is available in PS Professional

M

mabcpa1Author

Level 2

Thanks, dhk, but I was seeking guidance on how to report two replacement properties. I assume that I will need to do this outside of PS and allocate the new adjusted basis of the replacementment properties without the assistance of PS. Many years ago, PS did accomodate multiple replacement properties.

Thank you.