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Form 8824, Part IV (Deferral of Gain From Section 1043 Conflict-of-Interest Sales) is not supported in Drake Tax. Form 4797 Not Generating. Form 4797 will only generate if there is realized gain on the exchange.
Failure to report your 1031 Exchange will invalidate your Exchange and trigger the Capital Gains tax and the Depreciation Recapture, and probably some penalties. The name of the form is Form 8824, it’s called Like-Kind Exchanges, and you attach it to your Form 1040 if you are an individual.
Fill Our IRS Form 8824. You should prepare IRS Form 8824: Like-Kind Exchanges for all like-kind exchanges. Special rules apply for: Multi-assets; Exchanges made with someone you’re related to; Property you once used as your personal residence
