Information about Form 8824, Like-Kind Exchanges, including recent updates, related forms, and instructions on how to file. Use Parts I, II, and III of Form 8824 to report each exchange of business or investment property for property of a like kind.

8824 Department of the Treasury Internal Revenue Service Like-Kind Exchanges (and section 1043 conflict-of-interest sales) Attach to your tax return. Go to www.irs.gov/Form8824 for instructions and the latest information. OMB No. 1545-1190. 2024. Attachment Sequence No. 109. Name(s) shown on tax return. Identifying number

Form 8824 figures the amount of gain deferred as a result of a like-kind exchange. Use Part III to figure the amount of gain required to be reported on the tax return in the current year if cash or property that isn't of a like kind is involved in the exchange.

2024年7月5日 · Our guide will walk you through how to fill out Form 8824. These instructions detail the supporting documents needed to prepare the form and list line-by-line instructions. A completed form is also provided for further clarity on Form 8824 instructions.

2024年11月14日 · Use Form 8824 to report “like-kind exchanges,” that is, when you immediately buy a similar property to replace one you sold. While a like-kind exchange doesn’t eliminate your taxes, it can defer them; the cost basis from your original property is transferred to the new property, and taxes are calculated when and if you eventually sell ...

2023年11月29日 · IRS Form 8824, "Like-Kind Exchanges," is the primary document for reporting a 1031 exchange to the IRS. This form is critical for disclosing the exchange details, including the description of the properties, their respective fair market values (FMVs), any liabilities assumed or relieved, and the recognized gain or loss calculation.

In a like-kind exchange, you might exchange real property for similar property used solely for business or investment. If so, you might completely or partially defer gain on the exchange. If your gain is tax-deferred, you won’t recognize gain and pay tax until you dispose of the new property. What is Considered a Like-Kind Exchange?

Completing the income tax Form 8824 can be a complex task. To help, we have published annually since 1991 a workbook and 8824 worksheet to help exchangers complete the required Form 8824. Clear guidance is given for each line on the form.

IRS Form 8824, the 1031 Exchange form, is where you report your Section 1031 Exchange – Delayed, Reverse, or Construction. The Form 8824 is due at the end of the tax year in which you began the transaction, as per the Form 8824 Instructions.

2023年6月16日 · Section 1031 of the Internal Revenue Code allows for taxpayers to defer their tax liability on the sale of certain real estate under the like-kind exchange rule. However, taxpayers must still report these transactions on IRS Form 8824, the IRS’ like-kind exchange form. In this article, we’ll walk you through this tax form, including: