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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NEW!! Vacation Home Handbook: The Perfect Resource for 2nd/Vacation/Resort Markets!
Vacation Homes and Other Ownership Tax Issues » Click here to download According to the National Association of Realtors, the vacation home market is heating up again and many real estate professionals are reporting strong [...]
No Intent To Hold For Investment
No Intent To Hold For Investment A recent Tax Court Case, Yates v. Commissioner, T. C. Memo 2013-28, is an example of an intended 1031 exchange which was determined to be invalid because the taxpayer did [...]
Tenant In Common Ownership and Other 1031 Exchange Updates
Tenant In Common Ownership There are a variety of ways investors can hold title to investment real property. To see a simple comparison, click: Holding Title to Real Property, a Comparison of Three Different Methods. [...]
The Importance of Fair Market Rent and Other 1031 Exchange Topics
The Importance of Fair Market Rent Recent Tax Court Case Provides Important Insights A 2013 Tax Court decision, Adams v. Commissioner, T.C. Memo 2013-7, demonstrates the importance of a taxpayer receiving fair market rent when [...]