I did a 1031 way back in 2005. The purpose of doing the 1031, was to defer capital gains tax. The form 8824 is needed to calculate the cost basis of the received property, thus lowering the cost by the deferred gain. I read somewhere that if you do a 1031 but do not do the 8824 the fed voids the 1031 and you have to pay the tax. Does Turbotax Premiere create the form 8824 automatically. I do not remember doing it myself?
