Learn more about some replacement property resources and other professional resources that could be helpful for your 1031 exchange. Visit our library of important 1031 exchange forms.The pros at Equity Advantage have provided everything you need in easily downloadable PDF files. The first step in initiating a 1031 exchange is to open an Exchange Account with a Qualified Intermediary (aka an Accommodator). 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. Learn about the role of an exchange agreement in 1031 exchanges. Find out how this legal document outlines the terms and conditions of the transaction. "Like-kind" properties must be real property held for productive use in the investor's trade or business or for investment. Legal 1031 provides a form to identify property with each set of exchange documentation.