Morning, Twitter! We are here at the Podesta Group's HQ in Washington, DC, with Danielle Hail from the research department. Danielle just spent the morning discussing ten-thirty one electron exchangers for the sake of our audience. Want to give us some highlights, Danielle? Sure thing, J! We were talking about a survey that we conducted with our members. We surveyed both residential and commercial numbers and asked them about their experiences with 1031 exchanges. We found out that these exchanges are very important to our members and the commercial and residential real estate market. Sixty-three percent of our members indicated that they had used an exchange between 2011 and 2015. Additionally, forty percent of our members responded that without the 1031 provision, that transaction would not matter. These provisions are crucial for maintaining liquidity and equity in the property markets. Furthermore, this can translate into a significant amount of economic investment and job creation. Our survey respondents indicated that between 10 and 15 jobs were created with each exchange transaction, which is greater than the typical exchange. Today, we took the time to educate ourselves about the importance of 1031 exchanges. We also have some academics here who are presenting information that supports our findings. It's amazing how consistent our numbers are with academic research. In summary, 1031 exchanges play a vital role in the real estate industry. Thank you, Danielle, for sharing this valuable information. Just a reminder that you can find the full report on realtor.org. We'll also be sharing it on our Twitter handle shortly, and a press release will follow. Thank you very much, Danielle.
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8824 Form: What You Should Know
IRS Form 8824 | 1031 Qualified Intermediary What is IRS Form 8824: Like-Kind Exchange — TurboT ax A 1031 exchange is reported on IRS Form 8824 along with the normal tax return only when the exchange is completed. The completed exchange is reported for Federal Form 8824 Instructions — smart Tax Use Part I of Form 8824 to report each exchange of business or investment property for property of a like kind. If a like-kind exchange occurs with respect to property that was never held as capital property, report one Smart Tax Form 8824 Other IRS Form 8824 Resources The IRS Form 8824 Instructions contains the current version of the text for IRS Form 8824 and its related 1031 Exchange Reporting Procedures. We also provided the IRS Form 8824 Instructions when filing the following IRS Form 8824: IRS Form 8824 | 1031 Qualified Intermediary (Form 8949) — Schedule O Form 8824 is an important instrument of tax-filing reform that helps improve the transparency and fairness of tax returns and tax reporting. But it cannot solve the problems presented by filing characterized income.
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