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Form 8824: Like-Kind Exchanges (and section 1043 conflict-of-interest sales)
IRS Form 8824 is used to report like‑kind exchanges of real property and calculate deferred gain. Taxpayers who exchanged business or investment real property must file it, and exchanges are limited to real property held for use in a trade or business or for investment.
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IRS Form 8824 - Like-Kind Exchanges (and section 1043 conflict-of-interest sales)
IRS Form 8824 is used to report like‑kind exchanges of real property and calculate deferred gain. Taxpayers who exchanged business or investment real property must file it, and exchanges are limited to real property held for use in a trade or business or for investment.
Risk Radar
Scan points- 1Omitting required Form 8997 when you held a QOF investment.
- 2Attaching a separate sheet for lines 12a, 15a, 25a‑c on an e‑filed Form 8824 after 2023.
- 3Skipping Part III when line 9 or 10 is “Yes” and no line 11 exception applies.
- 4Failing to report the total recognized gain on line 23 in a summary Form 8824 for multiple exchanges.
- 5Omitting the total basis amount on line 25 in a summary Form 8824 for multiple exchanges.
Plain English
Form 8824 tells the IRS about a swap of one piece of real property for another that qualifies as a like‑kind exchange. It shows how much gain is postponed and, if cash or non‑like‑kind property is involved, how much must be reported now.
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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What this form is for
- Use this form when you transferred business or investment real property in a like‑kind exchange of real property during the tax year.
- Do not use it when the exchange involves personal property or non‑real property.
- Check Form 1062 instead when you are electing to defer net income tax on qualified farmland property.
Form selector
Use this form or another form?
Exchange of qualified farmland property with election to defer net income tax
Provides the election and reporting required under IRC §1062 for qualified farmland
✓ Confirm farmland qualifies and election is made
Holding a qualified investment in a Qualified Opportunity Fund (QOF) for at least 10 years
Reports QOF investments and satisfies the opportunity‑zone filing requirement
✓ Verify QOF investment meets the 10‑year holding rule
More than one like‑kind exchange in a year
Allows filing a summary and attaching a statement for each exchange
✓ Prepare a statement with name and identifying number for each exchange
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Line 19
Amount of Section 121 exclusion (if applicable) · Write‑in space on line 19 of Form 8824
Part I
Description of like‑kind property given up and received · Lines 1 and 2 of Form 8824
Line 23
Total recognized gain from all exchanges (summary) · Summary Form 8824 line 23
Line 25b
Basis of like‑kind property received under sections 1252‑1255 · Line 25b of Form 8824
Line 7
Related‑party exchange details · Line 7 of Form 8824
Before you submit
- 1Verify the revision date reads 20 25 on the form.
- 2Confirm your name and identifying number are entered in the top boxes.
- 3Ensure only real property is described on lines 1 and 2.
- 4Check that the acquisition date on line 3 follows MM/DD/YYYY format.
- 5If filing electronically and the property qualifies for Section 121 exclusion, write "Section 121 exclusion" and the amount on line 19.
- 6Review line 19 and do not reduce it by the exclusion amount.
- 7If you have a related‑party exchange, confirm you are within the 2‑year filing window.
- 8Attach any required explanations for exceptions on line 11.
- 9Sign the form before attaching it to your tax return.
- 10Keep a copy of the completed Form 8824 for your records.
How to file this form
- 1Gather details of the like‑kind exchange, including property descriptions and dates.
- 2Complete Part I of Form 8824 with the property descriptions and transfer dates.
- 3Fill Part II and, if required, Part III, entering amounts on lines 19, 20, 23, 25a‑c.
- 4Attach any required statements for multiple exchanges or line‑11 exceptions.
- 5Sign the form and attach it to your federal tax return.
- 6Submit the return with Form 8824 and retain a copy for your records.
Known limitations
- 1Form 8824 is not used when the replacement property's cost does not exceed the basis of the relinquished property and the taxpayer does not elect to defer gain; the sale is reported on Schedule D or Form 4797.
- 2Form 8824 must be filed for the two years following the year of a related‑party exchange.
- 3Part IV is completed only if the replacement property cost exceeds the basis of the divested property and a deferral election is made; otherwise Part IV is omitted.
- 4Special government employees defined in 18 U.S.C. §202 are excluded from the eligible persons provisions; they do not use Form 8824.
- 5Permitted property for Part IV is limited to obligations of the United States or diversified investment funds approved by the OGE.
Field map
Compact field-by-field guide
Entity Info
1 items
Name and taxpayer ID of the entity claiming the credit.
Credit Info
1 items
Type of credit or incentive being claimed.
Calculation
2 items
The base amount used to calculate the credit.
Calculated credit amount after applying formulas and limitations.
Certification
1 items
Detailed breakdown supporting the credit calculation.
Signatures
1 items
Sign and date the form.
Almost done reviewing the fields?
Fillable formOpen in Editor->The form shows revision "20 25" and the instructions are dated Dec 2 2025; the source points to the IRS website for the latest information.
What changed or needs a fresh check
- Edition date — confirm the form shows revision "20 25" and the instruction date Dec 2 2025
- OMB number — confirm it reads 1545-0074
- Fee — Not stated in the official source
- Mailing address — Not stated in the official source
- Signature — Not stated in the official source
Quick Facts
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After you file
- 1Retain all books or records related to Form 8824 as long as their contents may become material in the administration of any Internal Revenue law.
- 2Keep the certificate of divestiture with your records; do not attach a copy to the filed form.
- 3Expect that the information on the return is confidential under Internal Revenue Code section 6103.
- 4File Form 8824 with your tax return for the year in which the like‑kind exchange occurred.
Sources
- SRCInstructions p.1 — must file Form 8824 for the 2 years following a related‑party exchange.
- SRCInstructions p.6 — Part IV is completed only if replacement property cost exceeds basis and a deferral election is made; otherwise report on Schedule D or Form 4797.
- SRCInstructions p.6 — eligible persons exclude special government employees as defined in 18 U.S.C. §202.
- SRCInstructions p.6 — permitted property for Part IV is limited to obligations of the United States or diversified investment funds approved by the OGE.
- SRCInstructions p.1 — space on line 19 for “Section 121 exclusion” is available when filing electronically; do not reduce line 19 by the exclusion amount.
- SRCInstructions p.1 — use Parts I, II, III to report each exchange; Part III figures gain required to be reported if cash or non‑like‑kind property is involved.
- SRCInstructions p.1 — if more than one exchange, file a summary on one Form 8824 and attach a statement with details for each exchange.
- SRCInstructions p.1 — eligible taxpayers holding a qualified investment in a QOF must file Form 8997 attached to the tax return.
- SRCInstructions p.4 — line 19 electronic filing space for Section 121 exclusion has always been available on paper forms.
- SRCForm p.1 — Catalog Number 12597K, created 8/19/25 (identifies the edition).
Common confusion points
Do I reduce line 19 by the Section 121 exclusion amount?
Filers think the exclusion lowers the reported gain, but instructions say not to reduce line 19.
→ Verify that line 19 remains unchanged while entering the Section 121 exclusion on the electronic space.
Do I need to file Form 8824 after the year of a related‑party exchange?
Some assume filing ends with the exchange year, but the instructions require filing for two additional years.
→ Check that a Form 8824 is submitted for each of the two tax years following the related‑party exchange.
Can I file Form 8824 for a personal residence exchange?
Section 121 exclusion applies to a home, yet the form still requires reporting the exchange; the exclusion is entered separately.
→ Ensure you enter “Section 121 exclusion” and the amount on line 19 without reducing the line 19 amount.
When should I complete Part IV?
Uncertainty arises about eligibility; Part IV applies only when the replacement property cost exceeds the basis and a deferral election is made.
→ Confirm the cost exceeds the basis and a deferral election is elected before filling Part IV.
Are special government employees required to file Form 8824?
The term “eligible persons” includes many officials but explicitly excludes special government employees, causing confusion.
→ Verify the filer is not a special government employee as defined in 18 U.S.C. §202.
Do I need to attach a statement when filing a summary for multiple exchanges?
Filers may miss the requirement to provide detailed information for each exchange.
→ Attach a separate statement with name and identifying number for each exchange when using a summary Form 8824.
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Questions about IRS Form 8824
What is IRS Form 8824 used for?
Form 8824 tells the IRS about a swap of one piece of real property for another that qualifies as a like‑kind exchange. It shows how much gain is postponed and, if cash or non‑like‑kind property is involved, how much must be reported now.
Who must file IRS Form 8824?
Any taxpayer who transferred business or investment real property in a like‑kind exchange during the tax year must file IRS Form 8824 with their return.
What information does IRS Form 8824 require?
The form collects details in Part I (exchange description), Part II (property received), and, when required, Part III (gain or loss calculations). It also includes lines 12a, 15a and 25a‑c for e‑filers and Part IV for eligible judicial officers.
How do I complete IRS Form 8824?
File Form 8824 together with your tax return and sign it before sending. For the first two years after the exchange, complete Parts I and II; if lines 9 or 10 are “Yes” and no exception on line 11 applies, also complete Part III. Enter the required amounts on lines 12a, 15a and 25a‑c directly on the e‑filed form (no separate attachment after 2023). If you made multiple exchanges, use a summary Form 8824 and attach a statement with each exchange’s details.
Do I reduce line 19 by the Section 121 exclusion amount?
Filers think the exclusion lowers the reported gain, but instructions say not to reduce line 19. Verify that line 19 remains unchanged while entering the Section 121 exclusion on the electronic space.
Do I need to file Form 8824 after the year of a related‑party exchange?
Some assume filing ends with the exchange year, but the instructions require filing for two additional years. Check that a Form 8824 is submitted for each of the two tax years following the related‑party exchange.
Can I file Form 8824 for a personal residence exchange?
Section 121 exclusion applies to a home, yet the form still requires reporting the exchange; the exclusion is entered separately. Ensure you enter “Section 121 exclusion” and the amount on line 19 without reducing the line 19 amount.
When should I complete Part IV?
Uncertainty arises about eligibility; Part IV applies only when the replacement property cost exceeds the basis and a deferral election is made. Confirm the cost exceeds the basis and a deferral election is elected before filling Part IV.
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