Form 8824-2026

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Form 8824 is a tax form used by taxpayers to report like-kind exchanges of property, including real and personal property, as well as conflict-of-interest sales under section 1043. The form requires detailed information about the properties exchanged, dates of transactions, and any related party involvement. It also includes sections for calculating realized gains or losses, recognized gains, and the basis of the like-kind property received.

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Click ‘Get Form’ to open it in the editor.
Begin with Part I by entering your identifying number and the names shown on your tax return. This section requires details about the like-kind exchange, including descriptions of the properties involved.
Fill in the dates for when you acquired and transferred the properties. Ensure accuracy as these dates are crucial for compliance.
If applicable, indicate whether the exchange was made with a related party. If yes, proceed to Part II; otherwise, continue to Part III.
In Part III, calculate any realized gain or loss by following the instructions for each line carefully. This includes determining fair market values and adjusted bases.
Finally, review all entries for accuracy before saving or exporting your completed form directly from our platform.

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Versions	Form popularity	Fillable & printable
2023	4.2 Satisfied (49 Votes)
2022	4.3 Satisfied (40 Votes)
2021	4.9 Satisfied (59 Votes)
2020	4.3 Satisfied (74 Votes)
2019	4.2 Satisfied (89 Votes)
2018	4.3 Satisfied (230 Votes)
2017	4.2 Satisfied (106 Votes)
2016	4.1 Satisfied (30 Votes)
2013	4.4 Satisfied (485 Votes)
2005	4.2 Satisfied (25 Votes)

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How to fill out a form 8824?

Form 8824 is filed with your tax return. Step 1: Gather Supporting Information. Step 2: Get the Form. Step 3: Complete Part IInformation on the Like-kind Exchange. Step 4: Complete Part IIRelated Party Exchange Information (if applicable) Step 5: Complete Part IIIRealized/Recognized Gain or Loss.

What is the form 8824 used for?

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.

What qualifies a property for a 1031 exchange?

The exchange must involve real property kept for productive use in a business, trade, or for investment, and cannot involve property held primarily for sale. (Ibid.) Under the Same Taxpayer Rule, the seller of the relinquished property must be the same individual buyer the replacement property.

Who must file form 8824?

Form 8824 is used to report like-kind exchanges of business or investment propertywhen you immediately buy a similar property to replace what you soldunder IRS Section 1031.

Is it better to do a 1031 exchange or pay the taxes?

Key Takeaways. A 1031 exchange allows real estate investors to defer capital gains taxes by reinvesting the proceeds from the sale of a business or investment property into a new, like-kind property. The replacement property in a 1031 exchange should be of equal or greater value to avoid paying taxes immediately.

form 8824 instructions 2021

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Do you have to file every year?

Generally, not everyone needs to file a tax return each year. In fact, you wont need to file a tax return unless your total income exceeds certain thresholds, or you meet specific filing requirements. Typically, if your income is less than the Standard Deduction, you dont need to file a tax return.

Do I need to report a 1031 exchange on my tax return?

How do you report Section 1031 Like-Kind Exchanges to the IRS? You must report an exchange to the IRS on Form 8824, Like-Kind Exchanges and file it with your tax return for the year in which the exchange occurred.

Do you have to file form 8824 every year?

For example, if you transferred your relinquished property to a related party as part of your 1031 exchange, you must file Form 8824 with your tax return for not only that year, but for the two years following the exchange.

What happens if you dont file form 8824?

What happens if I do not file Form 8824? There are no penalties for failure to file Form 8824 but there are consequences. For starters, you cant defer capital gains tax. This means that the exchange may be treated as a sale transaction subject to capital gains tax.

When should you not do a 1031 exchange?

A principal residence usually does not qualify for 1031 treatment because you live in that home and do not hold it for investment purposes.

Form 8824-2026

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How to use or fill out form 8824 with our platform

See more form 8824 versions

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Got questions?

How to fill out a form 8824?

What is the form 8824 used for?

What qualifies a property for a 1031 exchange?

Who must file form 8824?

Is it better to do a 1031 exchange or pay the taxes?

Security and compliance

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Do you have to file every year?

Do I need to report a 1031 exchange on my tax return?

Do you have to file form 8824 every year?

What happens if you dont file form 8824?

When should you not do a 1031 exchange?

8824 2021

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