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66
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8
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Erick Garske
  • Investor
  • Anaheim, CA
8
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66
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Accounting for a 1031 exchange in Quickbooks Pro

Erick Garske
  • Investor
  • Anaheim, CA
Posted

I have already completed one 1031 exchange this year, and in the middle of another exchange. 

The issue that I have is how to precisely record the exchange in Quickbooks 2015. Since the premise is that there is no financial gain to a 1031 exchange does it need to be recorded simply by closing one fixed asset for another fixed asset? 

Having searched the archive here, I have not isolated this topic before. Th.at said I've heard varied opinions from both sides of the spectrum. Can anyone shed some light on this subjective subject?

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