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      • Example: Exchanger settles on the relinquished property on Dec. 14, 2018, and then settles on replacement property May 1, 2019. Exchanger would file IRS Form 8824 with the 2018 return, after filing for an extension. Do not file 2018 tax return until all replacement properties are received.
      www.1031.us/wp-content/uploads/Form8824Workbookfor2018.pdf
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  2. Fill out Form 8824 according to its instructions, with these exceptions. Subtract line 18 from line 17. Enter that result on line 19. On the dotted line next to line 19, enter “Section 121 exclusion” and the amount of the exclusion. On line 20, enter the smaller of: Line 15 minus the exclusion, or Line 19. Don't enter less than zero.

  3. Mar 03, 2022 · About Form 8824, Like-Kind Exchanges. Use Parts I, II, and III of Form 8824 to report each exchange of business or investment property for property of a like kind. Certain members of the executive branch of the Federal Government and judicial officers of the Federal Government use Part IV to elect to defer gain on conflict-of-interest sales.

  4. Form 8824 (2021) Page . 2 Name(s) shown on tax return. Do not enter name and social security number if shown on other side. Your social security number Part III Realized Gain or (Loss), Recognized Gain, and Basis of Like-Kind Property Received Caution: If you transferred and received (a) more than one group of like-kind properties, or (b)

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  5. FORM 8824 EXAMPLE Alan Adams bought a Duplex ten years ago for $200,000 cash. He assigned a value of $20,000 to the land. The furniture and furnishings had negligible value, none assigned. He began claiming depreciation allowance on the $180,000 building. He spent $30,000 cash in capital improvements on two garages and began claiming depreciation.

  6. If during the current tax year you transferred property to another party in a like-kind exchange, you must file Form 8824 with your tax return for that year. Also file Form 8824 for the 2 years following the year of a related party exchange. See the instructions for Line 7, later, for details. Like-Kind Exchanges Generally, if you exchange ...

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