by William Horan | Jan 1, 2008 | Federal Law, Regulations, Related Parties, Reporting
By Ed Horan, Certified Exchange Specialist® Basic Rule While not specifically stated in IRC 1031 a basic rule when doing a like kind exchange is that there must be continuity of title. This is often called the “same taxpayer rule”. It means that title to the interest...
by William Horan | Jan 1, 2008 | AlwaysSafe, Qualified Intermediary, Security
By Ed Horan, Certified Exchange Specialist® The objective in risk management is to do your job as professionally as possible, while at the same time reducing your collateral risks. In other words, don’t create unnecessary risks and liabilities for yourself while just...
by William Horan | Jan 1, 2008 | Criteria, Qualified Intermediary, Regulations
By Ed Horan, Certified Exchange Specialist® Why do you need a qualified intermediary to do a tax-deferred exchange? In 1991 the IRS established the requirement for a qualified intermediary (QI) in their regulation on Section 1031 of the Internal Revenue Code. The...
by William Horan | Jan 1, 2008 | Basis
By: Ed Horan, Certified Exchange Specialist® Should I Do an Exchange? To decide if you want to do a like-kind exchange of your investment real estate, you should determine how much capital gain you will have to pay tax on if you sell the property and do not do an...
by William Horan | Jan 1, 2008 | Extensions, Reporting, Vacation Homes
By: Ed Horan, Certified Exchange Specialist® It is a stretch to see the connection between hurricanes and like-kind real estate exchanges. But the IRS has found an important one. In January of last year the IRS published Revenue Procedure 2004-13 which provided...
by William Horan | Jan 1, 2008 | Regulations, Reporting, Vacation Homes
By Ed Horan, Certified Exchange Specialist® Vacation Property Conversions When they talk about conversion in the real estate industry it is usually the process of converting an apartment building into condominiums. In the exchange world a conversion means changing a...
