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How do you report Section 1031 Like-Kind Exchanges to the IRS?
You must report an exchange to the IRS on Form 8824, Like-Kind Exchanges and
file it with your tax return for the year in which the exchange occurred.

Form 8824 asks for :
(1) Descriptions of the properties exchanged.
(2) Dates that properties were identified and transferred.
(3) Any relationship between the parties to the exchange.
(4) Value of the like-kind and other property received.
(5) Gain or loss on sale of other (non like-kind) property given up.
(6) Cash received or paid; liabilities relieved or assumed.
(7) Adjusted basis of like-kind property given up; realized gain.

If you do not specifically follow the rules for like-kind exchanges, you may be held liable for taxes, penalties, and interest on your transactions.