IRS Form 8824 Like-Kind Exchanges

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IRS Form 8824 Like-Kind Exchanges

What Is IRS Form 8824?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.

FAQ

Q: What is IRS Form 8824?
A: IRS Form 8824 is used to report Like-Kind Exchanges for tax purposes.

Q: What is a Like-Kind Exchange?
A: A Like-Kind Exchange is a transaction where property is exchanged for similar property, allowing for potential tax deferment.

Q: What types of property can be included in a Like-Kind Exchange?
A: Real estate, vehicles, and other tangible assets can typically be included in a Like-Kind Exchange.

Q: Do I have to report a Like-Kind Exchange to the IRS?
A: Yes, you must report a Like-Kind Exchange on IRS Form 8824.

Q: How does a Like-Kind Exchange affect my taxes?
A: A Like-Kind Exchange allows for potential tax deferment, meaning you may not have to pay taxes on the gain from the exchange at the time of the transaction.

Q: Are there any restrictions or requirements for a Like-Kind Exchange?
A: Yes, there are specific rules and requirements outlined by the IRS for a transaction to qualify as a Like-Kind Exchange.

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Form Details:

  • A 2-page form available for download in PDF;
  • This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
  • Editable, printable, and free;
  • Fill out the form in our online filing application.

Download a fillable version of IRS Form 8824 through the link below or browse more documents in our library of IRS Forms.

Download IRS Form 8824 Like-Kind Exchanges

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