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Level 2
April 14, 2021
Question

what forms required for 1031 exchange

  • April 14, 2021
  • 3 replies
  • 12 views

I filled out the 8824, and sale of exchange 4797. Also checked deferred income. Program is taking both as taxable. Sch D does not reflect deferred income. confused

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3 replies

Just-Lisa-Now-
Intuit Community Champion
April 14, 2021
kuluibobAuthor
Level 2
April 16, 2021

Thank you. What I found out was that the home sale worksheet line 17 asks if this is a 1031 answer yes. Footnote says if yes gain will not go to Schedule D BUT it did. 

qbteachmt
Level 15
April 16, 2021

Are you trying to show 1031 exchange was used for a personal residence?

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