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8824 turbotax Form: What You Should Know
You must complete all four parts of Form 8824. The form provides examples for completing the five required parts and each part should be completed by you in its entirety. Sep 20, 2023 — Use Parts I, II and III of Form 8824 when you exchange, with a like-kind return, business or investment property that meets the following criteria: The property is a residential or business improvement property (commonly known as a real estate-type improvement property), you and the seller enter into a written agreement to purchase or rent, the property is purchased for investment, and the property is sold. The property exchange results in a gain to the exchanger. To report a 1031 exchange, complete Part III of Form 8824. Oct 26, 2023 — Use Parts I, II and III of Form 8824 to report each exchange of real estate property for real estate property of a like nature. Your 1031 exchange must be reported by completing Form 8824 and filing it along with your federal income tax return. If you completed more than two Part III of Form 8824 can be completed by you with each exchange you complete. Sep 27, 2023 — Use Parts I, II and III of Form 8824, like kind exchanges, when you exchange property of a like nature. If you don't file the form within 30 days of completing your trade, you receive a penalty as described later. Sep 27, 2023 — Use Parts I, II and III of Form 8824, like kind exchanges, when you exchange property of a like nature. If you don't file the form by Nov 1, 2020, you receive a penalty as described earlier. Sep 27, 2023 — Use Parts I, II and III of Form 8824, like kind exchanges, when you exchange, with a like-kind return, real property. When and How to Report a Section 956 Exchange to the IRS When you receive a stock exchange under Section 956.1 (for Example — a stock exchange for a nonpublic company which was not sold and which you hold a direct or indirect interest in) you must: File your return for the tax year that includes the date of exchange (also known as the date of disposition in the case of an exchange to a corporation for a corporation stock). . Complete Form 8824, like-kind exchange, and Schedule D (Form 8949) to be filed with any information returns you received.
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