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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IRS Approves 1031 Exchange Involving 2 Related Parties
IRS Approves 1031 Exchange Involving 2 Related Parties Private Letter Ruling 201242003 addresses a relatively creative situation involving two related parties that both intended to acquire the same replacement property in accordance with IRC Section [...]
1031 Like-Kind Property: Does Federal or State Tax Law Control?
Like-Kind Property: Does Federal or State Tax Law Control? The Internal Revenue Service’s Chief Counsel Advice (CCA) #201238027 addresses the issue of whether state law characterizations of property as real or personal are determinative of [...]
When to Pay the Piper (and how much will he charge)? & 1031 Exchange Updates
When to Pay the Piper (and how much will he charge)? By Jon Christianson, Esq., JD, LLM Tax Tax rates on capital gains are scheduled to increase in 2013 if Congress fails to extend the [...]
New 3.8 Percent Tax and the Impact on Real Estate Investors
New 3.8 Percent Medicare Tax With potential tax increases looming on the horizon, the value of tax deferral mechanisms, such as Section 1031 exchanges, have never been greater. One example of a potential tax increase [...]