Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
1031 Exchanges
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago on . Most recent reply presented by

User Stats

22
Posts
5
Votes
Cindy Cheng
  • Rental Property Investor
5
Votes |
22
Posts

How do you defer gain from 1031 exchange on PA Schedule D? HELP!!!

Cindy Cheng
  • Rental Property Investor
Posted

I completed a 1031 exchange in 2023. I understand that PA finally conforms to Fed IRC 1031 eff 1/1/2023. I'm filing my taxes using TurboTax and completed form 8824 for Fed purposes. When I get to PA taxes, I see the deferred gain in Schedule D of PA-40 which is recognizable and producing a tax liability. It has my deferred gain amount as "Gross sales price less expenses of sale" for some reason. But the bigger question is how do I let PA know it was done properly as a 1031 exchange and the gain should be deferred?  Nowhere on the form does it even mention deferred gains or like-kind exchanges! I looked up the most recent form online and visited the state's website and it does mention that starting in 2023, PA conforms to Fed IRC 1031 but it does not say HOW to report it.

Can someone PLEASE HELP?! THANK YOU IN ADVANCE!

Loading replies...