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Form 8824 Fill in Capable Like Kind Exchanges

Form 8824 Fill in Capable Like Kind Exchanges

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Instructions and help about Form 8824 Fill In Capable Like Kind Exchanges

Right now, I'm going to show you an overview of the Form 8824, which is the form that you will submit to the IRS when you do a 1031 Exchange Now here's the problem. The IRS requires that you submit this form in the year you sell your first property in the exchange. You can't wait on this. It has to be in that tax year. So, it's really valuable for you to learn about this form. And real quick, a 1031 Exchange is when you sell one rental property and buy another rental property ing to the IRS timelines and rules. This enables you to defer, sometimes forever, all the taxes that you would have made on your gain to build generational wealth for your family just like the big boys do. In this video, I'm going to introduce you to the form 8824. 8824 is the form that you and/or your accountant will submit with your tax return in the year that you complete your 1031 Exchange. Notice for 2023, there's several new items on the form. So it's c

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