OMB No. 1545-1190 Like-Kind Exchanges

Form 8824 (and nonrecognition of gain from conflict-of-interest sales)

Department of the Treasury

Internal Revenue Service

© See separate instructions. © Attach to your tax return. Attachment

© Use a separate form for each like-kind exchange. Sequence No. 109

Name(s) shown on tax return Identifying number

Information on the Like-Kind Exchange

1 Description of like-kind property given up ©

2 Description of like-kind property received ©

3 Date like-kind property given up was originally acquired (month, day, year) 3 / /

4 Date you actually transferred your property to other party (month, day, year) 4 / /

5 Date the like-kind property you received was identified (month, day, year). See instructions 5 / /

6 Date you actually received the like-kind property from other party (month, day, year) 6 / /

7 Was the exchange made with a related party? If “Yes,” complete Part II. If “No,” go to Part III. See instructions.

Yes, in this tax year No.

8 Name of related party Related party’s identifying number

Address (no., street, and apt., room, or suite no.)

City or town, state, and ZIP code Relationship to you

During this tax year (and before the date that is 2 years after the last transfer of property that was part of the

exchange), did the related party sell or dispose of the like-kind property received from you in the exchange?

9

During this tax year (and before the date that is 2 years after the last transfer of property that was part of the

exchange), did you sell or dispose of the like-kind property you received?

10

If both lines 9 and 10 are “No” and this is the year of the exchange, go to Part III. If either line 9 or line 10 is “ Yes,” the deferred

gain or (loss) from line 24 must be reported on your return this tax year, unless one of the exceptions on line 11 applies. See

Related party exchanges in the instructions.

11 If one of the exceptions below applies to the disposition, check the applicable box:

The disposition was after the death of either of the related parties.

The disposition was an involuntary conversion, and the threat of conversion occurred after the exchange.

You can establish to the satisfaction of the IRS that neither the exchange nor the disposition had tax avoidance as

its principal purpose. If this box is checked, attach an explanation. See instructions.

Caution: If you transferred and received (a) more than one group of like-kind properties, or (b) cash or other (not like-kind)

property, see Reporting of multi-asset exchanges in the instructions.

Note: Complete lines 12 through 14 ONLY if you gave up property that was not like-kind. Otherwise, go to line 15.

12 Fair market value (FMV) of other property given up 12

13 Adjusted basis of other property given up 13

Gain or (loss) recognized on other property given up. Subtract line 13 from line 12. Report the

gain or (loss) in the same manner as if the exchange had been a sale

14

14

15 Cash received, FMV of other property received, plus net liabilities assumed by other party, reduced

(but not below zero) by any exchange expenses you incurred. See instructions 15

16 FMV of like-kind property you received 16

17 Add lines 15 and 16 17

Adjusted basis of like-kind property you gave up, net amounts paid to other party, plus any

exchange expenses not used on line 15. See instructions

18

18

19 Realized gain or (loss). Subtract line 18 from line 17 19

20 Enter the smaller of line 15 or line 19, but not less than zero 20

21 Ordinary income under recapture rules. Enter here and on Form 4797, line 16. See instructions 21

Basis of like-kind property received. Subtract line 15 from the sum of lines 18 and 23

22

22

For Paperwork Reduction Act Notice, see back of form. Cat. No. 12311A Form 8824 (1998)

Part I

Yes No

Yes No

Realized Gain or (Loss), Recognized Gain, and Basis of Like-Kind Property Received

Note: If the property described on line 1 or line 2 is real or personal property located outside the United States, indicate the country.

a b c Yes, in a prior tax year

23

24 Deferred gain or (loss). Subtract line 23 from line 19. If a related party exchange, see instructions

Subtract line 21 from line 20. If zero or less, enter -0-. If more than zero, enter here and on Schedule

D or Form 4797, unless the installment method applies. See instructions

Recognized gain. Add lines 21 and 22

25

23

24

25

a

b

c

Part III

Part II Related Party Exchange Information

1998
Form 8824 (1998) Page 2

Section 1043 Conflict-of-Interest Sales. See instructions. Attach a copy of your certificate of divestiture.

Description of divested property ©

Description of replacement property ©

Date divested property was sold (month, day, year) 28 / /

Sales price of divested property. See instructions 29

26

30

27

Basis of divested property

Realized gain. Subtract line 30 from line 29 31

28

32

29

Cost of replacement property purchased within 60 days after date

of sale

Recognized gain. Add lines 34 and 35

30

33

34

31

Ordinary income under recapture rules. Enter here and on Form 4797, line 10. See instructions

Basis of replacement property. Subtract line 37 from line 32

32

35

Note: This part is only to be used by officers or employees of the executive branch of the Federal Government for reporting

nonrecognition of gain under section 1043 on the sale of property to comply with the conflict-of-interest requirements. This

part can be used only if the cost of the replacement property exceeds the basis of the divested property.

Name(s) shown on tax return. Do not enter name and social security number if shown on other side. Your social security number

33

34

35

36

37

38

Subtract line 32 from line 29. If zero or less, enter -0-

Subtract line 34 from line 33. If zero or less, enter -0-. If more than zero, enter here and on

Schedule D or Form 4797. See instructions

Deferred gain. Subtract line 36 from line 31

36

37

38

Part IV

Paperwork Reduction Act Notice. We

ask for the information on this form to

carry out the Internal Revenue laws of

the United States. You are required to

give us the information. We need it to

ensure that you are complying with

these laws and to allow us to figure and

collect the right amount of tax.

You are not required to provide the

information requested on a form that is

subject to the Paperwork Reduction Act

unless the form displays a valid OMB

control number. Books or records

relating to a form or its instructions must

The time needed to complete and file

this form will vary depending on

individual circumstances. The estimated

average time is: Recordkeeping, 27

min.; Learning about the law or the

form, 27 min.; Preparing the form, 1

hr., 2 min.; Copying, assembling, and

sending the form to the IRS, 34 min.

If you have comments concerning the

accuracy of these time estimates or

suggestions for making this form

simpler, we would be happy to hear from

you. See the instructions for the tax

return with which this form is filed.

be retained as long as their contents

may become material in the

administration of any Internal Revenue

law. Generally, tax returns and return

information are confidential, as required

by Internal Revenue Code section 6103.