{"id":20624,"date":"2017-06-14T12:00:00","date_gmt":"2017-06-14T12:00:00","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/"},"modified":"2023-08-29T08:33:47","modified_gmt":"2023-08-29T13:33:47","slug":"like-kind-exchanges","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/irs\/forms\/like-kind-exchanges\/","title":{"rendered":"Like-Kind Exchanges &#8211; Form 8824"},"content":{"rendered":"<p>In a like-kind exchange, you might exchange real property for similar property used solely for business or investment. If so, you might completely or partially defer gain on the exchange. If your gain is tax-deferred, you won\u2019t recognize gain and pay tax until you dispose of the new property.<\/p>\n<h2>What is Considered a Like-Kind Exchange?<\/h2>\n<p>Properties in a like-kind exchange can differ in grade or quality. However, to be considered a like-kind exchange, the property must be:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-51509 alignright\" src=\"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/06\/like-kind-exchange-300x200.jpg\" alt=\"like kind exchange\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/06\/like-kind-exchange-300x200.jpg 300w, https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/06\/like-kind-exchange.jpg 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<ul>\n<li>In the same general asset class<\/li>\n<li>Similar in nature<\/li>\n<li>Similar in character<\/li>\n<li>Not held for resale or flipped<\/li>\n<\/ul>\n<h3>Example of a Like-Kind Exchange:<\/h3>\n<p>You might give up a rental home in need of repairs in exchange for another rental home that\u2019s well maintained. If so, it\u2019s a like-kind exchange.<\/p>\n<p>To learn more, see Publication 544: Sales and Other Dispositions of Assets at <a href=\"http:\/\/www.irs.gov\/\">www.irs.gov<\/a>.<\/p>\n<h2>What Rules Apply to Like-Kind Exchanges?<\/h2>\n<p>You don\u2019t have to receive property on the day you give up your property for it to be a like-kind exchange. However, strict rules apply to tax-deferred exchanges. You might want a deferred exchange to qualify as a like-kind exchange. If so, you must comply with the 45-day written notice. The notice identifies the property you and the other person will exchange.<\/p>\n<p>You must receive the replacement property by the earlier of these:<\/p>\n<ul>\n<li>180 days after you gave up your property (not six months, but exactly 180 days)<\/li>\n<li>The due date of your federal return for the year you transferred your property. This includes any extensions.<\/li>\n<\/ul>\n<h2>Fill Our IRS Form 8824<\/h2>\n<p>You should prepare IRS Form 8824: Like-Kind Exchanges for all like-kind exchanges.<\/p>\n<p>Special rules apply for:<\/p>\n<ul>\n<li>Multi-assets<\/li>\n<li>Exchanges made with someone you\u2019re related to<\/li>\n<li>Property you once used as your personal residence<\/li>\n<li>Property you received that will become your personal residence\u2014Like-kind exchanges must be for business and investment real property. I could find nothing in the instructions related to property <em>received<\/em> that will be treated as a home.<\/li>\n<\/ul>\n<h2>More Help Completing Tax Forms<\/h2>\n<p>To learn more about reporting the exchange, see Form 8824 instructions at <a href=\"http:\/\/www.irs.gov\/\">www.irs.gov<\/a>. To get hands-on guidance with filling out Form 8824, get the help of tax pros at H&amp;R Block.<\/p>\n<p>Whether you\u00a0<a href=\"https:\/\/www.hrblock.com\/tax-offices\/local-offices\/#!\/en\/office-locator\/\">make an appointment<\/a>\u00a0with one of our knowledgeable tax pros or choose one of our\u00a0<a href=\"https:\/\/www.hrblock.com\/online-tax-filing\/\">online tax filing<\/a>\u00a0products, you can count on H&amp;R Block to help you out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a like-kind exchange, you might exchange real property for similar property used solely for business or investment. If so, you might completely or partially defer gain on the exchange. If your gain is tax-deferred, you won\u2019t recognize gain and pay tax until you dispose of the new property. What is Considered a Like-Kind Exchange? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":51509,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,55],"tags":[],"class_list":["post-20624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irs","category-forms"],"acf":[],"yoast_head":"<title>Like-Kind Exchanges Form 8824 | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Learn more about like-kind exchange rules and get tax answers at H&amp;R Block.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hrblock.com\/tax-center\/irs\/forms\/like-kind-exchanges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Like-Kind Exchanges - Form 8824\" \/>\n<meta property=\"og:description\" content=\"Learn more about like-kind exchange rules and get tax answers at H&amp;R Block.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.hrblock.com\/tax-center\/irs\/forms\/like-kind-exchanges\/\" \/>\n<meta property=\"og:site_name\" content=\"H&amp;R Block\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-14T12:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-29T13:33:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/06\/like-kind-exchange.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"334\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"H&amp;R Block\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@HRBlock\" \/>\n<meta name=\"twitter:site\" content=\"@hrblock\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"H&amp;R Block\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/irs\\\/forms\\\/like-kind-exchanges\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/irs\\\/forms\\\/like-kind-exchanges\\\/\"},\"author\":{\"name\":\"H&amp;R Block\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#\\\/schema\\\/person\\\/0451551be86ad17708cdd08a71391fcf\"},\"headline\":\"Like-Kind Exchanges &#8211; 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