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New lines 25a through 25c on 2023 Form 8824 require you to report the basis allocable to sections 1250 and 1245, and intangible property treated as real property, if applicable. See Lines 25, 25a, 25b, and 25c, later. Separate instructions for electronic filers. For e-filers, new lines 12a, 15a, and 25a through 25c are not available, and all ...
property on Form 8949 when reporting an exchange on Form 8824. If you made more than one like-kind exchange in the same year you should file only one summary Form 8824 and attach your own statement showing all the information requested on Form 8824 for each exchange. Include your name and tax ID number at the top of each page of the statement.
Include your name and identifying number at the top of each page of the statement. On the summary Form 8824, enter only your name and identifying number, “Summary” on line 1, the total recognized gain from all exchanges on line 23, and the total basis of all like-kind property received on line 25. Cat. No. 12597K.
Include your name and identifying number at the top of each page of the statement. On the summary Form 8824, enter only your name and identifying number, “Summary” on line 1, the total recognized gain from all exchanges on line 23, and the total basis of all like-kind property received on line 25.
16 FMV of like-kind property you received. The see instructions refer to Form 8824 instructions. Line 15 is a matter of adding and subtracting the above components. Let’s look at an example: Relinquished Property. $400,000 – Relinquished property. $200,000 – Tax Basis. $20,000 – Closing Costs. $30,000 – Cash Received at Closing ...
real property on lines 1 and 2, if you are filing this form to report the disposition of property exchanged in a previously reported related party like-kind exchange. If the property described on line 1 or line 2 is real or personal property located outside the United States, indicate the country. 1 . Description of like-kind property given up: 2
Total to Form 8824 Line 15 (not less than zero) $ 4 (Taxable as boot) Form 8824 Line 16 FMV Replacement Property Total from line 17, worksheet 2 $ 5 Form 8824 Line 18 Basis and Net Amounts Paid Purchase price, Exchange Property $ 6 Less depreciation taken to date of sale ( ) 7 Less deferred gain from previous 1031 Exchange (if any) ()8
