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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 (and section 1043 conflict-of-interest sales) for business or investment real property. For 2018 and later years, like-kind exchange treatment applies only to exchanges of real property held for use in a trade or business or for investment, other than real property held primarily for sale.
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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 (and section 1043 conflict-of-interest sales) for business or investment real property. For 2018 and later years, like-kind exchange treatment applies only to exchanges of real property held for use in a trade or business or for investment, other than real property held primarily for sale.
Risk Radar
Scan points- 1Failing to use Part III when required will result in incorrect determination of reported gain or basis.
- 2Filing without completing Part III when required by lines 9 or 10 being 'Yes'.
- 3Not reporting replacement property sold into the exchange if an exception on line 11 doesn't apply.
- 4Omitting the total recognized gain from all exchanges on line 23 of the summary Form 8824.
- 5Entering amounts on lines 25a, 25b, and 25c that are not proportionate to their FMVs.
Plain English
This form reports when you swap one piece of investment or business real property for another similar piece. It calculates how much of the profit is deferred because of the exchange and figures out what your new property's tax basis should be. Part III helps determine the gain that must be reported in the current year if cash or non-like-kind property was involved.
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 reporting each exchange of business or investment real property for real property of a like kind (Parts I, II, and III).
- Do not use it when the transaction is not an exchange of like-kind real property.
- Check Form 1062 instead when electing to defer net income tax attributable to gain on qualified farmland property.
Form selector
Use this form or another form?
Multiple exchanges are made
File a summary form and attach a statement detailing each exchange.
✓ Verify totals match the attached detailed statements.
Filing in one of the 2 years following an exchange
If lines 9 and 10 are 'No,' Part III is not required; otherwise, complete Part III.
✓ Confirm if exceptions on line 11 apply before completing Part III.
Property received was non-like kind or cash (and exception doesn't apply)
Use Part III to figure the amount of gain that must be reported in the current year.
✓ Ensure the deferred gain/loss from line 24 is reported as if it were a sale.
Taxpayer held qualified investment in QOF during the year
File Form 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments, with the tax return.
✓ Confirm that the holding period for the QOF investment was at least 10 years.
Deadline or filing window
The trigger event is transferring property in a like-kind exchange during the current tax year. The deadline is filing Form 8824 with your tax return for that specific year. If filing for one of the 2 years following the exchange, Parts I and II must be completed.
Checklist
What you need before filling it out
Part I: Summary
Name(s) and Identifying number · Lines above Part I (Summary) on Form 8824
Line 3, 4
Date acquired / Date transferred · Lines 3 & 4 on Form 8824
Part III (If applicable)
Deferred gain or loss from line 24 · Part III of Form 8824
Line 19 (E-filed only)
"Section 121 exclusion" and amount · Line 19, Form 8824
Line 25b
Basis of received property (if like-kind section 1252, 1254, or 1255) · Line 25b, Form 8824
Filing Deadline
Current tax year filing requirement · Instructions p.1
Before you submit
- 1Ensure all Name(s) and Identifying number fields above Part I are correctly filled out.
- 2Verify that Line 23 contains the total recognized gain from all exchanges (if filing a summary).
- 3Confirm that Line 25 contains the total basis of all like-kind property received (if filing a summary).
- 4If applicable, ensure Part III is completed if neither line 9 nor line 10 on the form reads 'No'.
- 5If an exception applies on line 11, confirm the appropriate box is checked and any required explanation is attached.
- 6Check that Line 3 (Date acquired) and Line 4 (Date transferred) are filled out for each property described.
- 7For e-filed forms, verify that if Section 121 exclusion applies, line 19 includes the text 'Section 121 exclusion' along with the amount.
How to file this form
- 1Complete Part I by describing the like-kind property given up (Line 1) and received (Line 2), including acquisition and transfer dates.
- 2If necessary, complete Parts II and III, ensuring that if an exception on line 11 applies, it is checked and explained.
- 3Summarize multiple exchanges onto one Form 8824 by entering the totals for recognized gain (Line 23) and basis received (Line 25).
- 4Attach the completed Form 8824 to your tax return for the current year, or file it for the two years following a related party exchange.
- 5Sign and date the form before sending.
Known limitations
- 1The like-kind exchange treatment applies to real property held for use in a trade or business or for investment, unless the real property is held primarily for sale.
- 2Part IV of Form 8824 must be completed only if the cost of the replacement property exceeds the basis of the divested property and the taxpayer elects to defer the gain; otherwise, the sale should be reported on Schedule D (Form 1040) or Form 4797.
- 3Permitted property includes any obligation of the United States or any diversified investment fund 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 current edition is 20/25, and instructions are dated December 2, 2025. For the latest information regarding Form 8824, filers should visit IRS.gov/Form8824.
What changed or needs a fresh check
- Edition date — confirm the revision reads 20/25.
- Form number — confirm it is Form 8824.
- Official title — confirm it reads Like-Kind Exchanges (and section 1043 conflict-of-interest sales).
- Tax year context — confirm this form applies to the current tax year being reported.
- IRS Catalog Number — confirm it is 12597K.
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Form 8824 for your records.
- 2If multiple exchanges are reported on one summary Form 8824, keep the attached statement showing all information requested for each individual exchange.
- 3When filing a related party exchange, also file Form 8824 for the two years following the year of that exchange.
- 4For business filers, retain documentation approved under OMB control number 1545-0123.
Sources
- SRCInstructions p.1 — Future Developments guidance directs users to IRS.gov/Form8824.
- SRCInstructions p.1 — Regulations sections 1.1031(a)-1, 1.1031(a)-3, and 1.1031(k)-1 define real property under section 1031 and address incidental personal property.
- SRCInstructions p.1 — Form 8824 figures the amount of gain deferred as a result of a like-kind exchange using its parts.
- SRCInstructions p.1 — If more than one like-kind exchange occurs, you can file a summary on one Form 8824 and attach your own statement.
- SRCInstructions p.1 — You must file Form 8824 with your tax return for the current year if property was transferred in a like-kind exchange during that year.
- SRCInstructions p.1 — Also file Form 8824 for the 2 years following the year of a related party exchange (details on Line 7).
- SRCInstructions p.6 — Part IV is completed only if replacement property cost > divested property basis and gain deferral is elected.
- SRCForm p.1 — The Form 8824 (2025) was created on 8/19/25.
Common confusion points
What do I do if my replacement property is not a like kind?
| Use Part III of Form 8824 to figure the amount of gain required to be reported on your tax return in the current year.
Use Part III of Form 8824 to figure the amount of gain required to be reported on your tax return in the current year.
| Check Part III when cash or property that isn’t of a like kind is involved in the exchange.
Check Part III when cash or property that isn’t of a like kind is involved in the exchange.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- The instructions direct users to IRS.gov/Form8824 for the latest information about developments related to Form 8824.
Questions about IRS Form 8824
What is IRS Form 8824 used for?
This form reports when you swap one piece of investment or business real property for another similar piece. It calculates how much of the profit is deferred because of the exchange and figures out what your new property's tax basis should be. Part III helps determine the gain that must be reported in the current year if cash or non-like-kind property was involved.
Who must file IRS Form 8824?
An eligible taxpayer who transfers property to another party in a like-kind exchange must file Form 8824 with their tax return for that year. Certain members of the executive branch and judicial officers of the federal government use Part IV to elect to defer gain on conflict-of-interest sales.
What information does IRS Form 8824 require?
Part I provides a Summary of the exchanges, while Parts II and III report details about the specific transactions. Line 25 breaks down the total basis received by property type: section 1250, 1245/1252/1254/1255, or intangible.
When is IRS Form 8824 due?
The form must be filed with your tax return for the current year if you transferred property in a like-kind exchange during that year. If filing for one of the 2 years following the exchange, Parts I and II are required.
Where do I file IRS Form 8824?
Form 8824 is filed with the taxpayer's annual tax return for that year. E-filers must complete lines 12a, 15a, and 25a through 25c directly on the form itself (starting in 2024).
How do I complete IRS Form 8824?
First, complete Part I for the summary information. If filing within 2 years of the exchange, complete Part II; if both lines 9 and 10 are 'No,' stop there. Otherwise, complete Part III to figure deferred gain/basis, then report the results on your tax return.
What happens if IRS Form 8824 is filed incorrectly?
If you fail to file Form 8824 when required, the IRS may treat the transaction as a sale, resulting in immediate recognition of gain or loss.
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