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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Happy 1031 Day from Asset Preservation!
Important Information For Investors Beginning An Exchange From October 17 – December 31, 2015 Do Not File Your 2015 Income Tax Return Until Your Exchange Has Been Fully Completed The time frame a taxpayer has to [...]
Trusts and 1031 Exchanges: An In-Depth Overview
Trusts and 1031 Exchanges: An In-Depth Overview Trusts are often involved in Internal Revenue Code (“IRC”) Section 1031 exchanges. For example, the relinquished property may be held in a revocable living trust that was formed [...]
Combine Reverse and Delayed Exchange for 360 Days
Combine Reverse & Delayed Exchange for 360 Days Tax-deferred exchanges have been part of the U.S. Tax Code since 1921. Since that time, the government has approved certain methods to structure exchange transactions that are [...]
Options for Partnership Exchanges and Other 1031 News
Partnerships and 1031 Exchanges Available Options for Partners and Partnerships (and LLCs) Like any taxpayer, a partnership (and a limited liability company taxed as a partnership, generally referred to herein as a “partnership”) can engage [...]