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.
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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 know nothing which life has to offer so satisfying as the profound good understanding, which can subsist, after much exchange of good offices, between two virtuous men, each of whom is sure of himself, and sure of his friend. It is a happiness which postpones all other gratifications, and makes politics, and commerce, and churches, cheap.”
—Ralph Waldo Emerson (1803–1882)