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AST0551
Returning Member

Form 8824

Last year I sold a property and bought another in a 1031 exchange. Form 8824 hangs up and demands a value on page 2, blocks 25 (a, b, or c).  TT's instructions say "...if you received Sec 1245, 1250 or other intangible property..."

I'm not a business, just a private individual who sold a city lot and bought recreational acreage in the country. Sections 1245 and 1250 (and 1231 for good measure) all seem to refer to BUSINESS ownership and use and I don't think apply here and I believe the real estate I bought isn't 'intangible'.

How do I properly complete the 8824 since the program won't advance without some values in 25 (a, b, or c)?

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