Form 8824 — Like-Kind Exchanges

This skill produces an audit-grade draft of Form 8824 from the user's facts about a §1031 like-kind exchange. It walks the form line by line, applies the strict timing and boot rules, computes deferred gain and recognized gain, and emits a deliverable the user can transcribe to their return with confidence.

The math has discrete edge cases (boot received, mortgage relief, related-party 2-year holds, mixed-basis property). The judgment is in whether the exchange even qualifies and which rule controls when a fact is missing. The agent should ask, not assume — a single missed timing date or related-party flag can invalidate the entire deferral.

When to invoke

Engage this skill when any of the following is true:

• The user explicitly mentions "1031", "Section 1031", "like-kind exchange", or "Form 8824"
• The user describes selling a rental property and buying another with the proceeds, mediated by a Qualified Intermediary (QI)
• The user describes a "swap" of two real properties between parties
• The user mentions a "Qualified Intermediary", "Exchange Accommodation Titleholder" (EAT), "45-day identification" or "180-day deadline"
• The user asks "how do I defer the gain on selling my rental"

Do not engage this skill when: