Intent To Hold For Investment: 12-Year Holding Period Lessons From Allen v. United States Is a 12-year holding period long enough for property to be considered to be “held for investment?" At first blush, a [...]

California FTB Denies Exchange Based on Cash Out at Closing: Analysis and Response It’s no secret that the California Franchise Tax Board (“FTB”) has become very aggressive in challenging 1031 exchanges.  In a recent audit, [...]

Taxpayer Uses Disqualified Person as a Qualified Intermediary (QI) In  Blangiardo v. Commissioner, T.C. Memo. 2014-110, the taxpayer hired his son to serve as his intermediary. The taxpayer duly reinvested the exchange proceeds into like-kind replacement [...]

1031 Exchanges Face Uncertain Future Section 1031 Under Siege There are currently three different proposals that the federal government is weighing, which would significantly alter Section 1031: Former Sen. Max Baucus (D-Montana), who became U.S. [...]