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Learn how to report and defer gain on exchanges of real property for real property of a like kind using Form 8824. Find out the rules, definitions, and exceptions for section 1031 exchanges, qualified opportunity funds, and conflict-of-interest sales.
- About Form 8824, Like-Kind Exchanges
Information about Form 8824, Like-Kind Exchanges, including...
- 2023 Form 8824
Before you begin: If you are e-filing Form 8824 and...
- About Form 8824, Like-Kind Exchanges
Jun 13, 2023 · Learn how to report Like-Kind Exchanges under Section 1031 of the Internal Revenue Code using Form 8824. This guide covers the basics, the step-by-step process, and the annual revisiting of the form.
Oct 19, 2023 · Say you paid $20,000 for a piece of business or investment real estate and sold it for $30,000 ($30,000 - $20,000 = $10,000 capital gain). Rather than have the $10,000 profit taxed as a capital gain, the like-kind exchange allows the gain to be "passed on" to the new property used for business.
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- Intuit Turbotax
Jul 31, 2023 · Filling Out Form 8824. Find IRS Form 8824 on the IRS website (http://www.irs.gov). Make sure you use the current tax year's form. Understand you need to fill out one Form 8824 for each exchange you make. Begin to fill out the form while you're still on the IRS website.
Nov 29, 2023 · Learn how to report a 1031 exchange to the IRS using IRS Form 8824. Get instructions on like-kind exchanges for tax benefits.
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