Reporting A Like-Kind Exchange
Due to periodic changes to the tax code, as well as detailed regulations that contain a number of technical requirements, it is important to check the most current rules and regulations before proceeding with a like-kind exchange. Current rules require taxpayers to submit an 8824 form to the IRS detailing the terms of the deal.
Read more about this topic: Like-kind Exchange
Famous quotes containing the words reporting and/or exchange:
“I have been reporting club meetings for four years and I am tired of hearing reviews of the books I was brought up on. I am tired of amateur performances at occasions announced to be for purposes either of enjoyment or improvement. I am tired of suffering under the pretense of acquiring culture. I am tired of hearing the word “culture” used so wantonly. I am tired of essays that let no guilty author escape quotation.”
—Josephine Woodward, U.S. author. As quoted in Everyone Was Brave, ch. 3, by William L. O’Neill (1969)
“I should like not to exchange any of my life for money.”
—Henry David Thoreau (1817–1862)