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A direct conversion architecture reduces the cost and power consumption of a receiver. However, a direct conversion receiver may suffer from direct current (DC) offset, frequency offset, and IQ imbalance. This paper presents an IQ imbalance estimation scheme for orthogonal frequency division multiplexing (OFDM) direct conversion receivers. The proposed IQ imbalance estimation scheme operates in the presence of dynamic DC offset and frequency offset. The proposed scheme calculates IQ imbalance from a simple equation. It employs the knowledge of the preamble symbols of the IEEE 802.11 a/g standards, while it does not require the impulse response of the channel. Numerical results obtained through computer simulation show that the bit error rate (BER) performance for the proposed IQ imbalance estimation scheme has a degradation of about 4 dB with a large DC offset, frequency offset, and IQ imbalance.