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How can i report one asset exchange to two assets in form

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8824? do I need to...
how can i report one asset exchange to two assets in form 8824? do I need to fill out two 8824 forms or just one? thanks.
HL
Submitted: 7 months ago.Category: Tax
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Customer reply replied 7 months ago
i still don't know should I use one of two 8824 form for each received property?
Answered in 6 hours by:
5/8/2017
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 7 months ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
Experience: Business Consultant/Accounting Manager
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Hi. Great Question
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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 7 months ago
One 8824. I will send you something in about 40 mins.
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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 7 months ago

Hi. Here is what you can do - complete lines 12 through 18 of form 8824. Attach your own statement showing how you figured the realized and recognized gain, and enter the amount on lines 19 through 25. Report any recognized gains on Schedule D, Form 4797 or Form 6252, whichever is applicable.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 7 months ago

Let me know if this helps or if you have any questions. Thank you.

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