The Importance of Fair Market Rent

Recent Tax Court Case Provides Important Insights

A 2013 Tax Court decision, Adams v. Commissioner, T.C. Memo 2013-7, demonstrates the importance of a taxpayer receiving fair market rent when desiring to obtain the tax deferral benefits of a 1031 exchange. In Adams, the taxpayer exchanged into a replacement property that was rented to the taxpayer’s son and family. The IRS challenged this exchange and claimed the property was considered a “family home” since the actual rent paid from the son to his father was considered slightly below market rent.

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Asset Preservation would appreciate the opportunity to work with you on your next exchange regardless of how simple or complex. Give us a call at 800-282-1031 to open a 1031 exchange.

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API is committed to providing its exchange customers with unmatched service and the highest level of security available in the §1031 exchange industry. From the customer’s first contact with an API representative, API’s professional exchange counselors, attorneys, and accountants work together to meet the customer’s service needs in order to ensure a smooth transaction with no surprises. In the background, API management maintains tight financial controls and multi-layered security systems necessary to provide a level of comfort and the quality of performance relied on by sophisticated investors and Corporate America; we call it the “The API Advantage™.”


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A Match Made in IRS Heaven: Cost Segregation & 1031 Exchange

Both of these tax strategies are about how much of your money you can make use of now. A 1031 exchange enables you to defer capital gain taxes on the sale of an investment property and cost segregation helps you obtain the benefits of accelerated depreciation.

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