Question
How do I enter a like kind exchange in the Schedule D screen?
I found this article some days ago and now cannot seem to find it. Would like to see if it is updated.
Having a real fight to get the Form 8824 and so forth to work. No matter what I do it seems to push the entire gain (on the replaced property) out to Schedule D and then Form 1040 and make it taxable. Sold old property for more than purchase price of new property so have about $75,000. in actual cash (received from "Exchange Facility".)
I did find and just printed the paper "1040: Completing a Like-kind Exchange of Business Property (1031 exchange) - this time with its printed insert forms. So I am about to work my way through this and see what I am missing.
Thank you
