Form 8824 IRS (2020)
Use a Form 8824 Irs 2020 template to make your document workflow more streamlined.
What Form 8824 reports
Form 8824 is the IRS information return used to report a like-kind exchange of business or investment real property and calculate recognized and deferred gain. The 2020 form records the relinquished and replacement properties, dates, fair market values, liabilities, exchange expenses, adjusted basis, realized gain, recognized gain, and deferred gain. Taxpayers generally attach it to the federal income tax return for the year the exchange occurred. The form does not itself establish eligibility; the transaction must satisfy the applicable Internal Revenue Code requirements, including IRC §1031, and the reported figures must match the exchange records.
Who benefits from Form 8824 workflows
Form 8824 supports taxpayers and advisers documenting qualifying like-kind exchanges, especially when several transaction records and reviewers must be coordinated.
A solo tax practitioner can prepare Form 8824 for a client’s qualifying exchange, collect the taxpayer’s review and signature, and retain the completed form with the client’s basis and closing documentation in one transaction file. A real-estate tax team can coordinate multiple parties in a deferred exchange, using reusable Form 8824 fields and controlled sending to collect consistent information before the return is finalized. An enterprise finance department can route exchange records through tax, legal, and accounting reviewers, preserving Form 8824 versions, approval evidence, and completed audit trails for internal controls and IRS examination support.
These tasks are executed by both individual contributors and centralized administrators depending on organizational policy and required controls.
How Form 8824 moves through signNow
Form 8824 moves from document preparation to review, signature, and evidence preservation in a controlled exchange-record workflow.
Upload form: Upload the IRS 2020 PDF and identify its exchange-reporting fields. Assign fields: Add taxpayer, preparer, reviewer, and signature fields. Check figures: Reconcile property values, basis, liabilities, and gain calculations. Complete record: Send the completed record and preserve its audit trail.
Complete Form 8824 in signNow
Use this workflow to prepare the 2020 form, collect the required signature, and preserve evidence without replacing tax review by a qualified professional.
Confirm the form:
Upload the 2020 Form 8824 PDF to signNow and confirm that the document matches the exchange year. Map the fields:
Use auto-detection or place fields for taxpayer names, exchange dates, property data, values, and signature areas. Reconcile transaction data:
Review every calculation against the exchange agreement, closing statement, basis schedule, and qualified intermediary records. Send for signature:
Send the completed draft to the taxpayer or authorized signer for review and electronic signature. Store the record:
Download the signed Form 8824 and completion certificate, then retain them with the federal return workpapers.
Recommended Form 8824 workflow setup
A controlled setup keeps the signed Form 8824, transaction evidence, and electronic signing history connected throughout tax preparation and review.
| Setting | Recommendation |
|---|---|
| Authentication method | Email verification with SMS OTP |
| Signature type | Typed or drawn electronic signature |
| Audit trail | Capture completion certificate and action log |
| Document retention | Three years from filing under IRC §6501(a) |
| Encryption | TLS 1.2/1.3 and AES-256 protection |
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How the Form 8824 audit trail works
The audit trail documents who handled the Form 8824, what happened, and when, creating a reviewable record alongside the completed tax form.
Authenticate signer:
Capture timestamps:
Hash document:
Seal document:
Log actions:
Retrieve evidence:
How long to retain Form 8824 records
Retain Form 8824 with the filed return and transaction evidence using the applicable federal assessment period, then check for longer state or industry requirements.
Three years from filing
Six years for major understatement
Indefinitely for fraud
Indefinitely without filing
Longer period if required
Find and fill out the correct 2015 form 8824 irs
airSlate SignNow helps you fill in and sign documents in minutes, error-free. Choose the correct version of the editable PDF form from the list and get started filling it out.
| Versions | Form popularity | Fillable & printable |
|---|---|---|
| IRS 8824 2025 | 4.5 Satisfied (56 Votes) | |
| IRS 8824 2024 | 4.8 Satisfied (82 Votes) | |
| IRS 8824 2023 | 4.8 Satisfied (777 Votes) | |
| IRS 8824 2022 | 4.8 Satisfied (1533 Votes) | |
| IRS 8824 2020 | 4.8 Satisfied (1865 Votes) | |
| IRS 8824 2018 | 4.8 Satisfied (1817 Votes) |
Record-keeping practices for Form 8824
Keep Form 8824 with the exchange agreement, closing records, basis calculations, and supporting evidence so the reported like-kind exchange remains reviewable under the applicable IRS retention rules.
Apply the applicable IRS retention period
Export the audit trail with workpapers
Archive taxpayer information securely
Reconcile values before filing
Form 8824 completion challenges
Entering the replacement property’s details without reconciling them to the qualified intermediary statement can distort fair market value, basis, liabilities, or deferred gain. Using the 2020 Form 8824 for a later tax year can create mismatched lines, instructions, or reporting requirements when the IRS has issued a revised form. Failing to retain exchange agreements, closing statements, and basis schedules makes the reported recognized and deferred gain difficult to substantiate during an IRS review. Treating an electronic signature as proof that the exchange qualifies under IRC §1031 overlooks separate requirements for property type, timing, and transaction structure.
Legal standing of Form 8824 records
A completed Form 8824 and its electronic signing evidence can support a business tax record when intent, signer attribution, consent, and accurate reproduction are established under the ESIGN Act, 15 U.S.C. ch. 96, and applicable UETA or New York ESRA rules. Those frameworks do not make an exchange eligible under IRC §1031, and they exclude wills, codicils, testamentary trusts, court orders, and specified family-law documents.
Security for Form 8824 records
Transport encryption:
Storage encryption:
Independent controls:
Security management:
Protected information:
Electronic signatures:
Features that support Form 8824
Form 8824 workflows benefit from structured field capture, controlled review, electronic signatures, and evidence preservation tied to the exchange file.
Exchange data
Capture relinquished and replacement property details, exchange dates, values, liabilities, expenses, basis, and gain calculations in the 2020 form structure.
Electronic review
Send the prepared Form 8824 to the taxpayer or authorized signer without requiring paper circulation between tax, finance, and legal reviewers.
Audit trail
Preserve timestamps, signer actions, delivery events, and completion evidence with the executed form for organized tax workpapers.
Reusable template
Reuse a controlled Form 8824 template while keeping transaction-specific values separate for each exchange and tax year.
Mobile signing
Review and sign from supported signNow mobile apps when exchange documentation must be completed away from the office.
Record export
Export the signed form and completion certificate for retention with the filed return and supporting exchange records.
Troubleshoot Form 8824 workflows
These answers address field mapping, electronic-signature evidence, signNow plans, and IRS retention considerations specific to Form 8824.
Upload the 2020 IRS PDF again, then verify that auto-detected fields align with the form’s printed lines. signNow Business includes templates and audit trails, but tax calculations still require manual review against exchange records.
Check that each signer received the correct signing request and that required fields are assigned. Business includes legally binding eSignatures and audit trails; Business Premium adds quick invite links when repeated requests need faster routing.
Electronic signing evidence does not determine whether the transaction qualifies under IRC §1031. Confirm real-property eligibility, exchange timing, identification records, and reported basis with a tax professional before filing the signed form.
For consumer-facing electronic records, provide the ESIGN disclosure and confirm the signer can access and retain the record under 15 U.S.C. §7001(c). signNow supports compliant signing workflows, but the sender remains responsible for the disclosure process.
Business is listed at $8/user/month with annual billing and includes audit trails, templates, and mobile apps. Subscription plans include 100 signature invites per user annually; verify overage terms before sending large exchange batches.
Export the signed Form 8824, completion certificate, and audit trail, then store them with the filed return and exchange workpapers. IRC §6501(a) generally supports three years from filing, with longer periods for major understatements, fraud, or nonfiling.
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