Spousal Vesting Issues and 1031 Exchanges Generally it is recommended that no changes be made to the way title to property is held shortly before or after a 1031 Exchange. For example, if title to an apartment building is held by Lisa and Russell as husband and...
updated May 2020 Personal property exchanges were eliminated with the Tax Cut and Jobs Act that was signed into law on December 22, 2017, and took effect on January 1, 2018. Read about the impact the Tax Cut and Jobs Act had on Sec. 1031 here. Most taxpayers are...
Be sure to read our current 1031 Exchange Trends for 2022. And read past trends 1031 Exchange Trends for 2021, 1031 Exchange Trends for 2020, 1031 Exchange Trends for 2019, 1031 Exchange Updates & Impacts 2018, and 1031 Exchange Trends for 2017 1031 Trends...
California Franchise Tax Withholding What happens to California Franchise Tax Withholding when the Exchanger files a tax return, and pays tax, on a failed exchange while the Qualified Intermediary is still holding the exchange funds? Example:...
Under current federal law, if a foreign person sells US real property, the buyer is obligated to withhold 10% of the gross sales price and remit this to the IRS. Pursuant to the Protecting Americans from Tax Hikes Act of 2015, however, which became law on...
updated May 2020 Be sure to read Tax Straddling – Pay Taxes in 2020 or 2021? December 2015 To keep your holiday season merry and bright, here are a few key 1031 updates and reminders: Tax straddling may be a viable option for you if you are currently considering a...
While gearing up for the busy year-end transaction season, here are a few of the topics we get asked about the most. 1. The Term Like-Kind2. Sell One, Buy One3. Reinvest Everything4. Replacing Debt5. Exchange a Vacation Home The Term Like-Kind“I am selling an office...
