Skip to main content
juliermerrillcpa
Level 3
October 5, 2022
Solved

Deferred loss from Like Kind Exchange in prior year - entering in ProConnect

  • October 5, 2022
  • 1 reply
  • 6 views

I have a new client that has bounced around between tax preparers. In 2019, he did a Like Kind Exchange and deferred a loss on the exchange.  In 2020, there is no mention of the deferred loss.  I'm now looking at 2021 and wondering where I would input this. Any tips?

This topic has been closed for replies.
Best answer by sjrcpa

I would only expect to see it on the 8824 for the year of the exchange - 2019.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
October 5, 2022

I would only expect to see it on the 8824 for the year of the exchange - 2019.

The more I know the more I don’t know.