Vacation Home Revenue Procedure by William Horan Safe Harbor for Vacation Home The IRS published Revenue Procedure 2008-16 for the purpose of providing a Safe Harbor under which the IRS will not challenge whether a dwelling unit with limited personal use qualifies as...
Ed Horan submits 199A comments to Treasury Throughout last year’s tax reform process, Realty Exchange was heavily involved as part of an industry team to help save 1031 exchanges for real property. The team spent countless hours walking the halls of the Capitol,...
Internal Revenue Code (IRC) Section 1031(f) establishes the special rules for exchanges between related parties. In addition, the IRS published “Revenue Ruling 2002-83” in November 2002, to clarify the purchase by an exchanger of the replacement property from a...
National Association of Realtors ( NAR) has published an excellent summary of the recent tax bill impact on Homeowners and Real Estate professionals. http://narfocus.com/billdatabase/clientfiles/172/19/3062.pdf Worth the read to understand the impact....
Tax reform bill is signed by the President with Real Estate 1031 like-kind exchanges preserved: Section 1031 like-kind exchanges for real estate are preserved under current law. The role of the Qualified Intermediary is preserved. Exchanges of personal property assets...
