Hi, Can anyone help with this:
I am trying to enter a Like Kind Exchange (1031) for one of the assets on a clients return. It is only actually one asset, but it is listed as a few assets all under one property as a few assets (The building is entered as one asset, the land is entered as a separate asset-since it doesn't depreciate , and then building had substantial improvements that were capitalized, and were also entered as a separate asset .
Now they sold the building (which actually includes the building, the land that it is on, and the improvements). The ATX MAX software does not seem to allow me to group them together as a bulk disposition and sell them under a like kind exchange. Can you please tell me how this can be done. If it can't be done, then please tell me how I should have entered the assets differently so that they could be entered as a like kind exchange in the ATX MAX software (and then onto the From 8824). I have this same issue for many clients in the same circumstances.
Thanks in Advance
