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Use Parts I, II, and III of Form 8824 to report each exchange of business or investment real property for real property of a like kind. 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 ...
- 2023 Form 8824
Form 8824 and completing line 12, 15, or 25, see the...
- 2020 Instructions for Form 8824
If during the current tax year you transferred property to...
- About Form 8824, Like-Kind Exchanges
About Form 8824, Like-Kind Exchanges. Use Parts I, II, and...
- 2023 Form 8824
Jun 13, 2023 · Filling Out Form 8824: A Step-by-Step Process. Part I: Information About the Like-Kind Exchange. Line 1: Describe the property you gave up and the like-kind property you received. Line 2: Enter the date the property was transferred and the date you acquired the replacement property. Line 3: If this exchange involved a related party, provide ...
The step-by-step instructions for filling out Form 8824 are as follows: Enter the description of the property given up and received in the exchange on lines 1 and 2. Enter the date of the written identification of the like-kind property received in a deferred exchange on line 5. Enter the date the like-kind property was received from the other ...
Ordinarily, when you sell something for more than what you paid to get it, you have a capital gain; when you sell it for less than what you paid, you have a capital loss. Both can affect your taxes. But if you immediately buy a similar property to replace the one you sold, the tax code calls that a "like-kind exchange," and it lets you delay some or all of the tax effects. The Internal Revenue ...
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