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For the latest information about developments related to Form 8824 and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form8824.
Jan 31, 2024 · Information about Form 8824, Like-Kind Exchanges, including recent updates, related forms, and instructions on how to file. Use Parts I, II, and III of Form 8824 to report each exchange of business or investment property for property of a like kind.
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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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Completion of IRS Form 8824. With the lines posted from the Worksheet to IRS Form 8824, the remaining open lines in Part III on Form 8824 can then be calculated. IRS Form 8824 and its instructions are included at the end of this Workbook. The form is also available at the IRS web site www.irs.gov/pub/irs-pdf/f8824.pdf.
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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.
Nov 29, 2023 · By. Luis Rivero, CPA. on. November 29, 2023. Understanding and correctly filing IRS Form 8824 is crucial for anyone involved in a like-kind exchange. This comprehensive guide will explain why mastering Form 8824 is essential for accurately reporting a 1031 exchange to the IRS.
