2007500

[#1]

The following diagnostic is generating:

Like-kind exchange (trade) of depreciable asset # {NumOfDeprecAsset} : In order to qualify as a like-kind exchange the replacement property must be received within 180 days after the original property was actually transferred.

Solution:

The replacement asset must be received within 180 days of transferring the original (relinquished) asset.

1. Navigate to Deductions>Screen 22 Depreciation
2. Select the asset with the like-kind exchange. 
3. Scroll to the Like Kine Exchnages (8824) section and check that the Date property reveived field is within 180 days.

Critically informational, won't prevent e-file transmission. 

[sjrcpa]

That is a correct statement.

[Kenqiu]

Yes but our client lives in California and he qualified for the disaster relief program for 2023, the 1031 exchange did pass 180 days but it should qualify for 1031. 

[sjrcpa]

You didn't say that originally.

Sorry, I can't help with this.

[Kenqiu]

Thank you for your input. If it was your client, what will you do?