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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 ...
- About Form 8824, Like-Kind Exchanges
About Form 8824, Like-Kind Exchanges. Use Parts I, II, and...
- 2023 Form 8824
Form 8824 and completing line 12, 15, or 25, see the...
- About Form 8824, Like-Kind Exchanges
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 ...
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What is form 8997 & 8824?
Oct 19, 2023 · When completing the form, it’s important to keep the following in mind: • Part I of Form 8824 is where you provide details about the old property and the new property. • Part II of the form comes into play only when a like-kind exchange involves "related parties"—members of a family or entities that you have a controlling interest in ...
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- Intuit Turbotax
Jul 31, 2023 · Admittedly, if your friend gives you a copy of a book and you give him or her a movie in return, no one will care. However, as the value rises increasingly, even the IRS wants to know what your transaction entailed. You must show you did not wrongfully profit from a transaction. You need to fill out Form 8824 to protect yourself.
