Get the free 2012 fillable 8824 form - irs

Part I Section 1032. Exchange of Stock For Property 26 CFR 1.1032-1: Disposition by a corporation of its own capital stock. (Also 701, 704, 705, 721, 722, 723, 1001, 1011; 1.701-2(e), 1.704-3.) Rev.

How to fill out 2012 8824 form

How to fill out 2012 8824 form?

1. Start by carefully reading the instructions provided with the 2012 8824 form. It is important to understand the requirements and ensure you have all the necessary information before beginning.
2. Begin by filling out the basic information at the top of the form, including your name, address, and Social Security number. Make sure to double-check the accuracy of this information.
3. Proceed to Section 1 of the form, which requires you to provide details about the property you sold or exchanged. This includes the description of the property, the date it was acquired, and the date it was sold or exchanged.
4. Move on to Section 2, where you need to disclose information about the property you received in exchange. This includes the description of the property, the date it was acquired, and the date the exchange was completed.
5. If there were any additional properties involved in the exchange, you will need to continue filling out Section 3 and provide the necessary information for each property.
6. Next, proceed to Section 4, where you need to report any adjustments to your basis. This may include depreciation or other adjustments that affect the value of the property.
7. If applicable, you will need to fill out Section 5 to report any unrecognized gain or loss from the exchange.
8. Finally, review the form to ensure all the information provided is accurate and complete. Sign and date the form, and attach any required documentation before submitting it to the appropriate tax authority.

Who needs 2012 8824 form?

1. Individuals who engaged in a like-kind exchange of property during the year 2012 may need to file the 2012 8824 form.
2. This form is required to report the details of the property exchange and any adjustments to basis or unrecognized gain or loss.
3. Additionally, taxpayers who received a Form 1099-S, Proceeds From Real Estate Transactions, for the property sold or exchanged should also consider filing the 2012 8824 form.

Note: It's important to consult with a tax professional or refer to the specific instructions provided with the form to determine if you are required to file the 2012 8824 form in your particular situation.

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What is 8824 form?

The 8824 form, also known as Form 8824 Like-Kind Exchanges, is a tax form used to report like-kind exchanges of real or personal property on federal income tax returns in the United States.

Who is required to file 8824 form?

Taxpayers who have engaged in a like-kind exchange of real or personal property during the tax year are required to file Form 8824 to report the exchange on their federal income tax returns.

How to fill out 8824 form?

To fill out Form 8824, you need to provide information about the properties being exchanged, their values, dates of acquisition and disposition, any boot involved, and other relevant details. It is recommended to consult the instructions provided by the Internal Revenue Service (IRS) for detailed guidance on properly completing the form.

What is the purpose of 8824 form?

The purpose of Form 8824 is to report like-kind exchanges to the IRS and calculate any gain or loss on the exchange. This form helps taxpayers comply with tax laws regarding like-kind exchanges and provides the IRS with the necessary information to assess the taxpayer's tax liability accurately.

What information must be reported on 8824 form?

Several pieces of information must be reported on Form 8824, such as the description of the property given up and received, their values, dates of acquisition and disposition, any boot received or given, and details of any related parties involved in the exchange. Additionally, calculations of realized and recognized gains or losses on the exchange must be included.