2016 Form 8824. Like-Kind Exchanges (and section 1043 conflict-of-interest sales)-2026

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Form 8824 is a tax form used by the Internal Revenue Service for reporting like-kind exchanges and section 1043 conflict-of-interest sales. It requires taxpayers to provide details about the properties exchanged, including descriptions, dates of transfer, and any related party transactions. The form also includes sections for calculating realized gains or losses, recognized gains, and deferral of gains under specific conditions. It is essential for taxpayers engaging in property exchanges to accurately complete this form and attach it to their tax return.

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Begin with Part I, where you will provide information on the like-kind exchange. Fill in the descriptions of the properties given up and received in lines 1 and 2, respectively.
Enter the relevant dates for acquisition and transfer of properties in lines 3 through 6. Ensure accuracy as these dates are crucial for compliance.
Indicate whether the exchange involved a related party by answering line 7. If 'Yes', proceed to Part II; if 'No', continue to Part III.
In Part II, provide details about the related party, including their name and relationship to you. Answer questions regarding any sales or disposals of property in lines 9 and 10.
Complete Part III by calculating realized gain or loss based on your entries from previous sections. Follow instructions carefully for lines 12 through 24.
If applicable, fill out Part IV for deferral of gain from section 1043 conflict-of-interest sales, ensuring all required information is accurately reported.

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Is form 8824 required?

You should prepare IRS Form 8824: Like-Kind Exchanges for all like-kind exchanges. Special rules apply for: Multi-assets. Exchanges made with someone youre related to.

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.

What is 8824?

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.

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.

Who needs to 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.

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