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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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Video instructions and help with filling out and completing Form 8824

Instructions and Help about Form 8824

Music hello everyone and welcome to today's class on like-kind exchanges we're gonna begin by moving past the table of contents and on to the introduction which begins on page three of the manual and in certain situations it is possible for a business to defer or delay taxation of capital gains and losses where an asset used for income production is traded for a similar asset also used for income production IRS regulations require the deferral of gains and losses on the exchange of property that is light kind now normally when we have a discussion with a client about like-kind exchanges we're hearing from the client because the client is looking for tax advice they're trying to figure out how to get themselves into a qualifying like-kind exchange scenario but it may be the case that they are in a like-kind exchange scenario and don't even know it because there are some kinds of like-kind exchanges that are going on around us all the time and as tax practitioners we should be aware of what electron exchanges so that we know when when we see one but also how to do the computations for the white pen exchange so we're going to look at briefly at a summary of the rules here and then we're going to go deeper into each of the rules an exchange of property will be considered to be a like-kind exchange only if all rules applying to the light-cone exchanges are met these rules are summarized as follows investment or income property only in a like-kind exchange both the property you give up and the property you receive must be held by you for investment or for productive use in your trade or business number two you must have qualifying property in addition...