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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.
Form 8824. Department of the Treasury Internal Revenue Service. Like-Kind Exchanges. (and section 1043 conflict-of-interest sales) Attach to your tax return. Go to www.irs.gov/Form8824 for instructions and the latest information. OMB No. 1545-1190.
Use Parts I, II, and III of Form 8824 to report each exchange of business or investment real property for real property of a like kind. Form 8824 figures the amount of gain deferred as a result of a like-kind exchange.
Oct 19, 2023 · The Internal Revenue Service (IRS) uses Form 8824 for like-kind exchanges. TABLE OF CONTENTS. What happens in an exchange? Allowable exchanges. Exclusions and deadlines. What happens in an exchange? A like-kind exchange doesn't eliminate taxes; it just pushes them into the future.
Jun 13, 2023 · Form 8824, used for reporting Like-Kind Exchanges under Section 1031 of the Internal Revenue Code, can be a powerful tool for deferring capital gains taxes. Let’s dive in. Understanding the Basics of Form 8824. Form 8824 primarily deals with the concept of Like-Kind Exchanges.
Form 8824, Like-Kind Exchanges, is used to report a like-kind exchange. Form 8824 Instructions provide information on general rules and how to complete the form. Page Last Reviewed or Updated: 02-Nov-2023. Information about the like-kind exchange and requirements under IRS Code Section 1031 for recognizing a gain or loss.
Nov 29, 2023 · 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.
