clearing critical diagnostic ref. #2050609 regarding 1031 exchange property

Forum|Forum|6 years ago
March 30, 2020
1 reply
23 views

clearing critical diagnostic ref. #2050609 regarding 1031 exchange property that qualifies for the exchange

Lacerte Tax

This topic has been closed for replies.

George4Tacks

Level 15

What type of property are you doing the exchange on? What is the wording in the diagnostic. You are asking other users and we do not have a magic list of the codes.

Answers are easy. Questions are hard!

D

dfa

Level 4

I think it can be ignored and override when ready to e-file. In my case it's 1979 real property that Lacerte flags as ineligible due to TCJA. I could only get it to clear if I used code 87 and a 1987 or later date of service, but then the 8824 has an incorrect date.

P

pat11

Level 5

How do you override when it comes time to e-file? I have improvements included on my LKE and this critical diagnostic has occurred. My attempt at e-file validation through the print menu is successful but that has been proven incorrect on other returns for different reasons and I don't consider the validation 100% reliable.

Do I need to do anything to clear the Informational Diags about the election statement. I am using the simplified method.

TIA

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