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Talk:Like-Kind Exchange Reporting

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Does a like-kind exchange have to be reported on both forms 4797 and 8824?

Posted by: Abdulkhan at 12:34 p.m. on 21 June 2005.

If there is a gain calculated in Part III of Form 8824, you will need to report that gain on either Form 4797 or Schedule D. If it is a capital gain, you will report it on Schedule D. Ordinary income (line 21 of the 8824) will need to be reported in Part II of the 4797. Section 1231 gain would need to be reported in Part I of Form 4797.
The instructions for lines 18 and 22 of Form 8824 can give you a little more guidance on this.
Posted by: DaveJohnson
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