How do you report a completely failed 1031 exchange that rolled over into the next tax-year when the taxpayer received the unused exchange funds?
It would seem that the IRS Form 8824 is intended to be used to avail the taxpayer’s privilege to defer the gain.
If there is no deferral and no exchange, it would appear that the 8824 is inapplicable. The installment form is 6252.
For more information, read our previous article on the topic.
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