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.
If youre referring to a 1031 exchange, try this
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.
"but I was seeking guidance on how to report two replacement properties."
Yes, that would be 1031 exchange. Was it in an exchange with a qualified intermediary?
Was it commercial or residential?
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