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IRSCredits & Incentives (8800/8900 Series)

Official form guide

Form 8824: 8824

IRS Form 8824 reports a like‑kind exchange of property under Section 1031. Use it when you swap real or personal property for similar property and want to defer gain.

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Form Overview

IRS Form 8824 - 8824

IRS Form 8824 reports a like‑kind exchange of property under Section 1031. Use it when you swap real or personal property for similar property and want to defer gain.

The form captures the description of each property, dates of transfer, fair market values, adjusted bases, and any boot received or given.

Risk Radar

Scan points
  • 1A single mis‑reported dollar amount can destroy the deferral and trigger immediate tax.
  • 2Incorrect fair market value leads to mis‑calculated gain.
  • 3Leaving out boot (cash or other property) triggers unintended taxable gain.
  • 4Mismatched dates cause the exchange to be treated as a sale.
  • 5Failing to attach the form to the main tax return.

Plain English

If you traded one building, land, or similar asset for another and want the tax on any profit to be postponed, you file this form. It tells the IRS the details of the exchange so the deferral can be granted.

Submission Date

  • Filing date: 2025-12-04 14:00:35
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

personal propertyfair marketmarket

Hover a term to preview the meaning.

What this form is for

  • Use when you exchanged real or personal property that qualifies as like‑kind.
  • Do not use for exchanges of stock, partnership interests, or intangible assets.
  • If the exchange involved a corporation’s stock, see Form 1120‑S Schedule K‑1 instead.

Form selector

Use this form or another form?

Exchange of partnership interest

Partnership income must be reported separately

✓ Verify partnership filing requirements

Form 1065, Schedule K‑1

Exchange of stock or securities

Capital gains reporting required

✓ Like‑kind rules do not apply to securities

Form 8949

Exchange involving foreign property

International partnership reporting

✓ Check foreign reporting thresholds

Form 8865

Deadline or filing window

Form 8824 must be filed with the tax return for the year the exchange closed. If you file an extension, the form is due by the extended filing date (typically October 15). No separate deadline exists beyond the return’s due date.

  • —Adjusted basis of relinquished property | Adjusted basis – accumulated depreciation | Adjusted basis result | Verify depreciation recapture rules

Checklist

What you need before filling it out

1

Part I – Property description

Settlement statement or deed · Closing documents

⚠ Often omitted property ID numbers✕ Medium
2

Part I – Date of exchange

Closing date on settlement sheet · Settlement statement

⚠ Date entered incorrectly✕ High
3

Part II – Fair market value

Independent appraisal or market listing · Appraisal report

⚠ FMV may be estimated incorrectly✕ Medium
4

Boot received/given

Cash receipt records or additional asset paperwork · Bank statements, receipts

⚠ Boot left out or mis‑classified✕ High
5

Adjusted basis calculation

Prior year tax return, depreciation schedules · Form 1040 Schedule D, Form 4562

⚠ Basis errors common✕ High

Before you submit

  1. 1Use the correct edition for the filing year.
  2. 2All property descriptions match legal documents.
  3. 3Dates of transfer are accurate to the day.
  4. 4Fair market values are supported by appraisal or market data.
  5. 5Boot amounts are fully reported.
  6. 6Adjusted basis calculations are verified against prior returns.
  7. 7Signature is present and legible.
  8. 8Form is attached to the correct tax return.
  9. 9Mailing address matches the IRS instructions for your return type.
  10. 10Copy of settlement statements included in your records.

How to file this form

  1. 1Download the latest Form 8824 PDF from IRS.gov.
  2. 2Print or fill electronically using PDF editor.
  3. 3Enter property details, dates, and values in Part I.
  4. 4Complete the gain‑deferral worksheet in Part II.
  5. 5Review calculations against supporting documents.
  6. 6Sign the form and attach to the appropriate tax return.
  7. 7Mail the return to the address listed in the instructions or e‑file if supported.

Known limitations

  1. 1Form does not calculate depreciation recapture; separate worksheets may be needed.
  2. 2Boot calculations assume cash value; non‑cash boot may require additional documentation.
  3. 3The form relies on taxpayer’s fair market value estimates; IRS may challenge valuations.
  4. 4No automatic error checking in the PDF; manual review is required.

Field map

Compact field-by-field guide

6 fields

Entity Info

1 items

Taxpayer Name and TIN

Name and taxpayer ID of the entity claiming the credit.

Requiredtext

Credit Info

1 items

Credit Type

Type of credit or incentive being claimed.

Requiredselect

Calculation

2 items

Qualifying Amount

The base amount used to calculate the credit.

Requiredamount
Credit Amount

Calculated credit amount after applying formulas and limitations.

Requiredamount

Certification

1 items

Supporting Information

Detailed breakdown supporting the credit calculation.

text

Signatures

1 items

Signature

Sign and date the form.

Requiredsignature
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Current form status
IRS

Form 8824 is currently released for tax years 2023‑2025. The latest edition date is January 2024. Verify the edition matches your filing year before use.

What changed or needs a fresh check

  • Edition date – confirm the form edition matches the tax year you are filing.
  • Fee – no filing fee for Form 8824.
  • Mailing address – use the address in the instructions for your specific return type.
  • Signature line – ensure the taxpayer (or authorized officer) signs.
  • Attachment – attach to the appropriate income tax return (1040, 1120, etc.).

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Quick Facts

Taxpayers who performed a like‑kind exchange of real or personal property report it on Form 8824.
The form captures the description of each property, dates of transfer, fair market values, adjusted bases, and any boot received or given.
Form 8824 is filed with the tax return for the year in which the exchange was completed, typically by the regular filing deadline (April 15, or extended date).
Attach the completed Form 8824 to your individual (Form 1040), corporate (Form 1120), partnership (Form 1065), or fiduciary return and mail to the address listed in the form’s instructions.
Errors can cause the gain to be recognized immediately, leading to unexpected tax, penalties, or audit exposure.
1. Gather closing statements, settlement sheets, and appraisal reports for both properties. 2. Compute each property's adjusted basis and fair market value on the exchange date. 3. Fill Part I with property descriptions and dates, then Part II with the gain‑deferral calculations. 4. Review the worksheet for boot and any disallowed loss, sign, and attach to the appropriate return.

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After you file

  1. 1Keep a copy of the filed Form 8824 and all supporting documents for at least seven years.
  2. 2Track the basis of the newly acquired property for future depreciation.
  3. 3Monitor any later disposition of the exchanged property for potential gain recognition.
  4. 4If the IRS sends a notice, compare the reported numbers to your records before responding.
  5. 5Update your accounting software with the new basis and holding period.
  6. 6Store settlement statements and appraisals in a dedicated exchange folder.

Sources

  • SRCIRS Form 8824 instructionsdescription of purpose and filing requirement.
  • SRCIRS Publication 544like‑kind exchanges overview.
  • SRCIRS websitelatest edition date (January 2024).
  • SRCForm 8824 PDFpart headings and required fields.
  • SRCIRS filing address tablewhere to mail the form.
  • SRCIRS deadline guidanceexchange reported with the return for the year of exchange.

Common confusion points

Like‑kind definition

Real vs. personal property rules

→ Confirm property qualifies under §1031

Boot vs. cash consideration

Boot includes non‑cash assets

→ List all non‑cash items received/given

Date of exchange

Closing date vs. contract date

→ Use the actual transfer date on the settlement sheet

Adjusted basis

Prior depreciation vs. improvements

→ Reconcile with previous tax returns

Foreign property exchange

Not covered by Form 8824

→ Use international reporting forms

Workflow map

Related forms and next steps

1 signals

Before

Form 1099‑S (if boot includes cash) | Used with: Form 8824 | After: Schedule D (Capital Gains and Losses) | If something goes wrong: Form 1040‑X (Amended Return)

Current

8824

After

None listed

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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