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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Offer on Replacement Property Before Closing on the Relinquished Property Sale
In a 1031 delayed exchange, the taxpayer has 45 calendar days from closing on the sale of a relinquished property to identify replacement properties, pursuant to the rules of identification. This 45-day period is [...]
1031 Exchanges Help the Economy During COVID-19 Pandemic
The Federation of Exchange Accommodators (FEA), the only national trade association representing the 1031 exchange industry, just released Section 1031: Sustaining American Businesses During Economic Uncertainty. This flyer highlights the many benefits of 1031 exchanges to [...]
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 [...]