Like-kind exchanges, Form 3840

In addition to the California version of federal Form 8824, Like-Kind Exchanges, California requires taxpayers to submit Form 3840, California Like-Kind Exchanges, in certain circumstances for transactions in the tax year 2014 or later.
For a like-kind transaction in which property was transferred, identified, or received in the current year, use the
CA3840
screen in the Business, Rent & Royalty, Farm, Farm Rental, K1 1065 1120S, K1 1041, Personal Sale, or Income & Adjustments folder.
To enter or report information for a like-kind exchange that occurred in a prior year, use the
CA3840PY
screen.
To print Form 3840 with the return, mark the
Print Form 3840
on the
CA 3840
or
3840PY
screen to include that particular like-kind exchange with the return.
The California Franchise Tax Board requests that preparers be mindful of the following when preparing Form 3840:
  • Complete the appropriate information for Side 2.
  • For Question B, indicate whether Form 3840 is an initial, amended, annual, or final form.
  • Include complete property descriptions. Form 3840 instructions state that the full address (or assessor's parcel number, county, and state) needs to be reported.
  • Include ownership percentages.
  • Include the California source-deferred gain (Schedule A, Part I, Line 8).
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