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If the property given up was used partly as a home, and partly for business or investment, you will need to use two separate Forms 8824 as worksheets. Use one worksheet for the part of the property used as a home, and the other worksheet for the part used for business or investment. Fill out only lines 15 through 25 of each worksheet Form 8824.
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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Form 8824 Worksheets (xls). IRS Form 8824 (pdf). INSTRUCTIONS TO FORM 8824 WORKSHEETS. There are no specific instructions provided by the 1031 Regulations on how to determine "cash received", "cash paid" or "net mortgage relief" in exchange transactions where both exchange cash and financing cash are used to acquire Replacement Property ...
WorkSheets 7 & 8 - Calculation of Form 8824, Line 15 - Calculation of Basis of New Property for Form 8824, Line 18 WorkSheets 9 & 10 - Completing Form 8824 - Calculation of Recapture for Form 8824, Line 21 You can either keep or shred completed WorkSheets. Do not send these WorkSheets with your tax return. SEND: IRS Form 8824 - Page 1 IRS Form ...
Exchanger would file IRS Form 8824 with 2017 return, after filing an on-time request for an extension. 2. HOW DO WE REPORT THE EXCHANGE? The Exchange is reported on IRS Form 8824, Like-Kind Exchanges. The Form 8824 is divided into four parts: Part I. Information on the Like-Kind Exchange Part II. Related Party Exchange Information Part III.
1031 Corporation Exchange Professionals - Qualified ...
