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When should I use form 8824?
Does IRS use form 8824 for like-kind exchanges?
What are the instructions from form 8824 regarding multi-asset exchanges?
Should a related party exchange be reported on form 8824?
3 days ago · For example, let’s say you exchange business property with a basis of $100,000 for a building valued at $120,000 plus $15,000 in cash. Your realized gain on the exchange is $35,000: You received $135,000 in value for an asset with a basis of $100,000. However, since it’s a like-kind exchange, you only have to recognize $15,000 of your gain.
4 days ago · IRC Section 1031 states, “No gain or loss shall be recognized on the exchange of real property held for productive use in a trade or business or for investment if such real property is exchanged solely for real property of like kind which is to be held either for productive use in a trade or business or for investment.”
5 days ago · The 1031 Exchange allows the investor to “exchange” the proceeds of the sale of the property and reinvest those proceeds into another property of equal or higher value. The proceeds must be put toward a “like-kind” property, meaning the property is of similar nature and value.
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4 days ago · FEA provides a clear unified voice as an advocate for the issues affecting the exchange industry. Educating Consumers. Selecting a Qualified Intermediary (QI) is an important step in a successful exchange transaction and an FEA Member is the best choice for your exchange. Find a Professional
4 days ago · This includes depreciation allowances, tax write-offs, lower capital gain tax rates and tax-deferred hold/exit strategies such as 1031 like-kind exchanges and qualified opportunity zone (QOZ ...
4 days ago · “The IRS does not let taxpayers deduct the staggering capital losses they suffer when holding Federal Reserve notes over time,” said Stefan Gleason, president of Money Metals Exchange, the U.S. company named Best Overall Precious Metals Dealer by Investopedia.com. “So it’s grossly unfair for the IRS to assess a capital gains tax when ...
