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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Vineyard 1031 Exchanges
“Wine is sunlight, held together by water.” —Galileo“I cook with wine and sometimes I even add it to the food.” —W.C. FieldsPeople have enjoyed vineyards and wine for thousands of years. With demand increasing, prospective [...]