The Smooth Side of Riverside. Form 8824 is the form used to report a 1031 exchange to the IRS.Com, or fill out the form and we'll get in touch immediately. A 1031 exchange can be a powerful tool for real estate investors looking to defer capital gains taxes and acquire new investment properties. You must report the exchange to the IRS on Form 8824. With your final statement, we will send our workbook explaining how to fill out your Form 8824 properly. Visit our library of important 1031 exchange forms. The pros at Equity Advantage have provided everything you need in easily downloadable PDF files. 1031 Exchange Process. A 1031 exchange is a swap of one investment property for another that allows capital gains taxes to be deferred.