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  1. Learn how to report and defer gain on exchanges of real property for real property of a like kind using Form 8824. Find out the rules, limitations, and exceptions for section 1031 exchanges, qualified opportunity funds, and conflict-of-interest sales.

  2. FORM 8824 WORKSHEET. Tax Deferred Exchanges Under IRC § 1031 Worksheet 1. Taxpayer Exchange Property Replacement Property Date Closed. Before preparing Worksheet 1, read the attached Instructions for Preparation Of Form 8824 Worksheets. Then, prepare Worksheet 1 after you have finished the preparation of worksheets 2 and 3.

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  3. Oct 19, 2023 · Both individuals and businesses—corporations, partnerships and sole proprietorships—can carry out like-kind exchanges. However, the property involved must be used for business or investment. Beginning in 2018, like-kind exchanges can only be done with real property such as a rental home.

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  4. Jan 26, 2022. 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments, attached. See the Form 8997 instructions. Purpose of Form. 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.

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