Step Transaction Doctrine

The step transaction doctrine is a common law principle and is part of the general tax concept that substance should control over form. In using this doctrine, a series of separate transactions is recharacterized as a single transaction for tax purposes. The doctrine is applied to prevent tax abuse; and is often used in combination with other doctrines such as the business purpose doctrine (Gregory v. Helvering, 293 U.S. 465 (1935)). The step transaction doctrine applies in cases when a taxpayer wants to…


1031 Exchange Webinars

Tuesday, April 19th

11:00 AM – 12:00 PM EST
CPE Credit Available

This one-hour intermediate/advanced webinar provides a concise and thorough overview of 1031 exchanges for accountants, CPAs, and tax advisors. This webinar covers critical time deadlines, like-kind requirements, fractional ownership, oil/gas/mineral rights, related party transactions, partnership/LLC scenarios, reverse and improvement exchanges, and how to avoid common pitfalls.

Thursday, March 31st

12:00 PM – 2:00 PM CT
CLE/CPE Available

This two-hour course for commercial brokers provides a concise and thorough overview of IRC Section 1031 tax-deferred exchanges. This webinar tackles advanced issues such as partnership/LLC scenarios, creative property variations such as perpetual cellular easements (cell towers), fractional ownership, transferable development rights, reverse and improvement exchanges, how to avoid common pitfalls and related-party transactions.

We Love Our Happy Customers

Our exchange paperwork was flawless and always on time. Thank you.

-William T., California

Get Real Podcast: Ways To Defer Taxes and Get Better Returns

Scott Saunders, Sr. Vice President of Asset Preservation, joins the Get Real (Estate) podcast to discuss the best ways to tailor your 1031 exchanges and how you should be handling them.


1031 Basics: IRS Form 8824 Like-Kind Exchanges

The tax filing date for many taxpayers is just around the corner. The Internal Revenue Service Form 8824, Like-Kind Exchanges, must be completed and filed with the IRS every time a taxpayer performs a 1031 exchange. The IRS Form 8824 contains three sections related to a 1031 exchange:

  • Part 1, Information on the Like-Kind Exchange;
  • Part II, Related Party Exchange Information; and
  • Part III, Realized Gain or (Loss), Recognized Gain, and Basis of Like-Kind Property Received.

Federally Declared Disaster Extension Information

Click the link below to determine if you may qualify for an extension.

https://www.irs.gov/newsroom/tax-relief-in-disaster-situations

Additional information here: https://apiexchange.com/disaster-relief/


Call Us

Asset Preservation would appreciate the opportunity to work with you|
on your next 1031 exchange. Give us a call for a free consultation.


Shared Equity Financing

The purchase of an undivided interest in investment property with a third party, including a child or other family member, who will occupy the property as their principal residence (referred to as the “occupying-co-owner”) can qualify as replacement property under IRC Section 1031, and the investor-co-owner can receive rental income and depreciation benefits, provided the arrangement meets certain criteria in a written “shared equity financing agreement.”