How to report a 1031 exchange on IRS Form 8824

A 1031 exchange is reported on IRS Form 8824 along with the normal tax return only when the exchange is completed. The completed exchange is reported for the tax year the initial relinquished property (the property being sold) is settled and the 180 day exchange period is started. If the final replacement property is transferred in the next year the Form 8824 will not be finalized until after that property is transferred. This may require an on-time extension of tax year reporting.

    Completing the income tax Form 8824 can be a complex task.

    To help, we have published annually since 1991 a workbook and 8824 worksheet to help exchangers complete the required Form 8824. Clear guidance is given for each line on the form. The workbook also contains a chart which shows the Exchange Expense allocation of each settlement costs and the IRS 8824 form.

    The workbook is updated annually and published free on this web site.

    Download the Form 8824 Workbook

     

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