Statutory Limitations on Like-Kind ExchangesThe proposed regulations provide guidance implementing changes enacted in the Tax Cuts and Jobs Act (TCJA). These proposed regulations amend the existing regulations adding a definition of real property reflecting statutory changes limiting section 1031 to exchanges of real property. The proposed regulations provide a rule addressing a taxpayer’s receipt of personal property that is incidental to real property. They also affect taxpayers that exchange business or investment property for other business or investment property in determining whether the exchanged properties are real property for Section 1031 purposes. Read More » |
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Wishing You Happy Holidays!
Dear Clients and Associates, As we bring 2021 to a close, we have extremely good news! The proposed limitation to cap 1031 like-kind exchange tax deferral was defeated. The 1031 national trade association, the Federation [...]
Wishing You a Very Happy Thanksgiving!
Thank you for referring your 1031 exchange transactions to Asset Preservation, Inc. (API) over the years. We appreciate the opportunity to provide excellent service on each and every 1031 exchange. We will continue to work [...]
Happy 1031 Day
Important Information for Investors Beginning an Exchange From October 17 – December 31, 2021 Do Not File Your 2021 Income Tax Return Until Your Exchange Has Been Fully Completed. The time frame you have to [...]
Take Action to Save 1031 Exchanges
1031 TAX REFORM UPDATE Now is the time to make your voice heard. The House of Representatives recently passed the 2022 reconciliation Budget Resolution. This Budget Reconciliation focuses on a new $3.5 trillion infrastructure and [...]