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 Case re: Intent to Hold for Investment
Intent to Hold for Investment - Reesink v. Comm. In a recent Tax Court case, Reesink v. Commissioner, (April 23, 2012) T.C. Memo 2012-118, husband and wife purchased a residential house as a replacement property [...]
Recent Tax Proposals vs Tax Certainty with 1031 Exchanges
Taxation, tax rates, tax deductions and overall tax fairness are certain to be dominant themes in a year with a presidential election in the fall. Many different tax proposals have been put forth by various [...]
Distressed Property Acquisitions in a 1031 Exchange
Real estate investors are purchasing properties at steep discounts by utilizing techniques such as short sales, courthouse step sales, and purchasing bank owned properties (REO). While these approaches can often provide excellent buying opportunities, buyers [...]
Real Estate and Inflation
The Consumer Price Index (CPI) is one measure the government uses to track the rate of inflation in the U.S. economy. Recently, the CPI has been fairly low by historical standards, but some analysts believe [...]