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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.
Form 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.
You'll use Form 8824 to report like-kind exchanges, which lets you defer capital gains taxes when you sell a property and buy a similar one. There are exclusions and strict deadlines you must meet: you typically have 45 days to identify a replacement property and 180 days to complete the acquisition.
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.
Form 8824 primarily deals with the concept of Like-Kind Exchanges. These are exchanges where you trade business or investment properties of a similar kind and defer the capital gain or loss recognition until the replacement property is sold or disposed of in a taxable transaction.
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.
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.
Find IRS Form 8824 on the IRS website (http://www.irs.gov). Make sure you use the current tax year's form. Understand you need to fill out one Form 8824 for each exchange you make.
If you've exchanged real estate to defer tax gains, you may need to report the transaction on IRS Form 8824. Read our guide to learn more!