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...
We have published and distributed annually on our website www.1031.us the comprehensive IRS form 8824 Workbook by Ed Horan titled “Reporting the Like-Kind Exchange of Real Estate Using IRS Form 8824.” The workbook is written and made available...
In a recently published article Ken Harney, nationally syndicated real estate author, explains how 1031 exchanges are used and how they are threatened under the House Ways and Means tax reform proposal. A very large portion of 1031 exchanges are done by small real...
A 1031 exchange reinvests in replacement property. A tax payer does not recognize the capitol gain on their tax return and avoids the 3.8% Net Investment Income (NII) Tax. Recently the IRS distributed IRS Tax Tip 2016-28 which helps taxpayers determine if they must...
