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Level 3
December 7, 2019
Solved

How do I enter multiple cost basis and dates placed in service on one depreciable property for UBIA purposes?

  • December 7, 2019
  • 1 reply
  • 19 views

I have a property for UBIA that was acquired in a 1031 exchange. For UBIA the original property basis and date placed in service are used for the replacement property. Excess basis should be reported at the date the replacement property was placed in service. I don't see how to enter more than one cost basis/date placed in service in the depreciation screen 22 (I see where you can enter one different cost/date).

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Best answer by sjrcpa

Enter it as 2 assets.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

Enter it as 2 assets.

The more I know the more I don’t know.
Level 3
December 7, 2019
Thanks - I was hoping for a different answer.