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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1031 Exchange Summer Update – 2020
The 1031 exchange market nationally has been like a roller coaster this past spring and summer, plummeting down in April and roaring back up starting in June. In late March and April exchange activity [...]
New Proposed 1031 Real Property Regulations
Statutory Limitations on Like-Kind Exchanges The 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 [...]
IRS Notice Extends 1031 Exchange Deadlines
Breaking News On April 9, 2020 the IRS issued Notice 2020-23. This Notice extended many deadlines for taxpayers affected by the COVID-19 pandemic including Section 1031 exchange time deadlines. This Notice provides that any person [...]
Top 1031 Exchange Pitfalls
Top 1031 Exchange Pitfalls Taxpayers should always review all aspects of any 1031 exchange with competent tax/legal advisors familiar with your specific transaction, objectives and the relevant facts. This article addresses some of the [...]