2021 Journal entries for partnership deferred 1031 exchange began 2021, ending 2022?

This is an accounting question where the answer probably depends heavily on your business case. I don't think anyone here can know the answer.

@mgbacot 

You are correct that, although the exchange was completed in March 2022, it needs to be reported on your 2021 return.  To help you with recording this, here's what's needed: the values of the exchanged property, FMV of property received, accumulated depreciation of exchanged property and selling expenses.