Screen 8824 - Like-Kind Exchanges (990)

General Information

Property given up
You'll have to enter a description in this field when you manually enter assets.
Treatment
Choose where the information appears on Form 4797 or Schedule D. You can override the default code.

Related Party Exchanges

Explanation if no tax avoidance purpose
Entering an explanation here also marks the no tax avoidance exception box on Form 8824. If you enter an explanation and select code
1
or
2
from the
Special condition if applicable
list, both exceptions are marked on Form 8824.

Income Classification Information

Unrelated business activity
If this like-kind exchange generated unrelated business income, mark this box. If you leave this blank, like-kind exchange information won’t appear on Form 990-T.
Exclusion code
Choose or enter the appropriate code if the like-kind exchange is excluded by section 512, 513, or 514.
Exempt purpose information
Enter a description to explain the relationship of the income to the organization’s exempt purpose. This information prints on Form 990-PF, Part XVI-B.
Investment property
Mark this box if the asset being exchanged was investment property and the exchange was not part of unrelated business income.
Basis at date of disposition
If the basis at the date of disposition is different than the basis calculated using the data entered above, enter it here.
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