Type text, add images, blackout confidential details, add comments, highlights and more.
02. Sign it in a few clicks
Draw your signature, type it, upload its image, or use your mobile device as a signature pad.
03. Share your form with others
Send form 8824 via email, link, or fax. You can also download it, export it or print it out.
How to use or fill out 2002 Form 8824 (Fill-in Version). Like-Kind Exchanges with our platform
Ease of Setup
DocHub User Ratings on G2
Ease of Use
DocHub User Ratings on G2
Click ‘Get Form’ to open it in the editor.
Begin by entering your name(s) and identifying number at the top of the form. This information is crucial for your tax return.
In Part I, provide descriptions of the like-kind properties exchanged. Be specific about their nature and location, especially if they are outside the U.S.
Fill in the dates related to the exchange: when you acquired the property, transferred it, identified new property, and received it.
Indicate whether the exchange was made with a related party. If yes, complete Part II; otherwise, proceed to Part III.
In Part III, calculate any realized gain or loss from other properties given up and ensure all amounts are accurately reported.
Finally, review all entries for accuracy before saving or exporting your completed form directly from our editor.
Start using our platform today to simplify your form completion process for free!
Fill out 2002 Form 8824 (Fill-in Version). Like-Kind Exchanges online It's free
Reporting a 1031 exchange to the IRS After completing a 1031 exchange, you must report the transaction to the IRS using Form 8824 to maintain the transactions tax-deferred status. You must file the form with your annual income tax return for the year in which the exchange was completed.
What is considered like kind in a 1031 exchange?
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.
What tax form is used for a 1031 exchange?
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. It helps you calculate deferred gains and track basis adjustments.
Do you get a 1099 for a 1031 exchange?
Per the IRS, Gain deferred in a likekind exchange under IRC Section 1031 is taxdeferred, but it is not taxfree. More importantly for a settlement agent, an exchange transaction is not exempt from IRS reporting. A 1099S must still be filed, reporting the transfer to the IRS.
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.
form 8824 worksheet
2002 form 8824 fill in version like kind exchanges pdf2002 form 8824 fill in version like kind exchanges irsForm 8824 instructionsForm 8824 PDFForm 8824 WorksheetForm 8824 exampleForm 8824 instructions PDFForm 8824 worksheet excel
Security and compliance
At DocHub, your data security is our priority. We follow HIPAA, SOC2, GDPR, and other standards, so you can work on your documents with confidence.
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. If you do not specifically follow the rules for like-kind exchanges, you may be held liable for taxes, penalties, and interest on your transactions.
Which IRS form is used to report like-kind exchanges?
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.
how to report 1031 exchange in turbotax
Like-Kind Exchange (Trade) of Business Assets
To report a like-kind exchange and thereby any deferred gain or loss, taxpayers include IRS Form 8824, Like-Kind Exchanges with their federal income tax return.Read more
Cookie consent notice
This site uses cookies to enhance site navigation and personalize your experience.
By using this site you agree to our use of cookies as described in our Privacy Notice.
You can modify your selections by visiting our Cookie and Advertising Notice.