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 Fis 1028 Form 2013

2013-2025 Form

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Instructions and help about Fis 1028 Form

will be going over IRS form 8824 like kind exchanges and section 1043 conflict of interest sales so most of the time taxpayers who would use this form would be involved in something called a section 1031 exchange section 1031 exchange is a part of the Internal Revenue code that allows taxpayers to defer the capital gain on the sale of Real Estate if as a part of that sale the proceeds are used to reinvest in a similar type of property so for example under 1031 this would be you know exchanging real estate you can defer the capital gain on the sale of an investment property such as let's say uh a duplex and you decide to invest that money into an apartment building since you're exchanging like kind properties you can do a like kind exchange which would defer your tax liability uh to at some point in the future when you sell the replacement property but then you also have to report the information on this on IRS form 8824 and that way you can keep a running tab on things

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