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Form 8824 (2003) Page 2 Deferral of Gain From Section 1043 Conflict-of-Interest Sales Description of divested property Description of replacement property
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Form 8824 is used to report like-kind exchanges of real estate or personal property for tax purposes.
Taxpayers who have completed like-kind exchanges of real estate or personal property are required to file form 8824.
Form 8824 requires taxpayers to provide information about the properties exchanged, the dates of the exchange, and the value of the properties.
The purpose of form 8824 is to report like-kind exchanges to the IRS in order to defer capital gains taxes on the exchanged properties.
Taxpayers must report the description of the properties exchanged, the dates of the exchange, the adjusted basis of the properties, and any gain or loss realized.
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