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Got it, but since the election was done in 2023, does it make senseif I delete the old asset, manually enter the new asset bases as the old asset adjusted basis...
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Everything was executed and filed based on the like-kind exchange rules. The problem is I did not do their taxes for 2023 and I built that one first and started...
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It immediately showed up when I started working on 2024 return. Would it work if I delete the old asset, manually enter the new asset bases as the old asset adj...
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Thank you, what about the gain showing up in the 2024 return while it should be deferred?
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Thank you so much for your explanation, 100% agree with what you said. The problem is the deferred gain now shows up in the 2024 tax return added to the income....
