Form 8824 for a Drop n Swap 1031 Exchange

[Simcha Davidman]

Greetings!

I have a gut feeling my CPA is not handling this situation correctly, but I'd greatly appreciate any feedback. Here's the simplified scenario:

Partners A, B, C and D purchase a property for 1.5m in an LLC (Prop 1 LLC). Partner A owns 60% and Partner B-D own 40%.

Partner A drops down to the property and does a 1031 exchange. Partners B-D take their money and run.

Prop 1 LLC is now getting it's 1065 and associated forms ready for 2022 taxes (totally theoretical :) ).

When filling out Form 8824, Part III, does Prop 1 LLC use the entire property value, or just Partner A's pro rata share?

OR, does Prop 1 LLC not even fill out 8824, since it did not perform a 1031 exchange - only Partner A performed the exhange? If so, where does Partner A fill out his 8824? Does he just enter his share of the property (income, expenses, depreciation, gain, etc) on his own personal/business tax return, and file 8824 then?

Thank you!