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Sale of 1035 exchange property
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I keep seeing 1035, but regardless or the code section involved, it appears Talksalot wants a check box. There is a check box for Final 3840.
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Final FTB 3840 – Check this box if this is the last form FTB 3840 that will be filed because the property received in the exchange was sold or otherwise disposed of. Enter the taxable year that the like-kind exchange occurred. Complete both sides of form FTB 3840 with same information from the previously filed form(s) FTB 3840.
Attach a statement to the back of form FTB 3840 that explains how the property received was disposed.
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Input for this is Screen 22 (Individual module) > California Like-Kind Exchange (3840) > Second item use 2=final
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