Instructions For Form 8824 - 2009 Page 4
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4how long you actually held the stock. This
3. Report the amount from line 35 on
any Internal Revenue law. Generally, tax
may benefit you if you do not defer your
Form 4797, line 10, column (g). In column
returns and return information are
entire gain, because it may allow you to
(a), write “From Form 8824, line 35.” Do
confidential, as required by section 6103.
treat the gain as a capital gain instead of
not complete columns (b) through (f).
The time needed to complete and file
ordinary income. For details, see section
this form will vary depending on individual
Line 36. If you sold a capital asset, enter
421(d) or Pub. 525, Taxable and
circumstances. The estimated burden for
any capital gain from line 36 on Schedule
Nontaxable Income.
individual taxpayers filing this form is
D. If you sold property used in a trade or
Complete Part IV of Form 8824 only if
approved under OMB control number
business (or any other asset for which the
the cost of the replacement property is
1545-0074 and is included in the
gain is treated as ordinary income), report
more than the basis of the divested
estimates shown in the instructions for
the gain on Form 4797, line 2 or line 10,
property and you elect to defer the gain.
their individual income tax return. The
column (g). In column (a), write “From
Otherwise, report the sale on Schedule D
estimated burden for all other taxpayers
Form 8824, line 36.” Do not complete
or Form 4797, whichever applies.
who file this form is shown below.
columns (b) through (f).
Your basis in the replacement property
Recordkeeping . . . . . . . 10 hr., 45 min.
Paperwork Reduction Act Notice. We
is reduced by the amount of the deferred
ask for the information on this form to
Learning about
gain. If you made more than one
carry out the Internal Revenue laws of the
purchase of replacement property, reduce
the law or the form . . . . 2 hr., 17 min.
United States. You are required to give us
your basis in the replacement property in
Preparing the form . . . . 2 hr., 33 min.
the information. We need it to ensure that
the order you acquired it.
Copying, assembling,
you are complying with these laws and to
and sending the form
Line 30. Enter the amount you received
allow us to figure and collect the right
from the sale of the divested property,
to the IRS . . . . . . . . . . . 10 min.
amount of tax.
minus any selling expenses.
If you have comments concerning the
You are not required to provide the
Line 35. Follow these steps to determine
accuracy of these time estimates or
information requested on a form that is
the amount to enter.
suggestions for making this form simpler,
subject to the Paperwork Reduction Act
1. Use Part III of Form 4797 as a
we would be happy to hear from you. See
unless the form displays a valid OMB
worksheet to figure ordinary income
the instructions for the tax return with
control number. Books or records relating
under the recapture rules.
which this form is filed.
to a form or its instructions must be
2. Enter on Form 8824, line 35, the
retained as long as their contents may
amount from Form 4797, line 31. Do not
become material in the administration of
attach the Form 4797 used as a
worksheet to your return.
-4-
2009 Instructions for Form 8824
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