Tax software that supports "121 exclusion" in 1031 exchange

[Eugene Cheng]

Hi 

Anybody is aware of software tax service that supports section 121 exclusion for the tax-free boot? specially the property relinquished was my home in the last 2/5 years period. I have been using Turbotax for my returns but I couldn't figure out how to get Turbotax understand this specific 121-exclusion, even their supports can't figure that out either.

I am reaching out to CPAs but I still wonder if such software exists?

[Bill Exeter]

Hi @Eugene Cheng, 

I have never seen a software like Turbo Tax or any others that can handle the tax processing for a 1031 Exchange well, let alone a 121 Exclusion. The 1031 Exchange is complicated enough, but the 121 Exclusion adds quite a bit more.  I would highly recommend a CPA for this year.