If you are thinking of selling your dual use property – a primary residence property which is also used for business or investment purposes – you may qualify for the benefits of two sections of the Internal Revenue Tax Code. By combining IRC Sections 121 and 1031 in...
September 2016 The saying “what is old is new again” is perfectly illustrated with the latest real estate trend. For decades developers have purchased apartment buildings and then converted and sold the apartments as individual condominiums to meet demand for...
When setting up or completing a 1031 Exchange taxpayers need to be mindful of the rules and procedures set forth in the tax code. These are five of the common mistakes that occur: 1) Not looking for Replacement Property soon enough. 2) Not starting a 1031 Exchange in...
As the name implies, a 1031 Reverse Exchange is the opposite of a 1031 Delayed/Forward Exchange. In a Reverse Exchange, new replacement property is acquired before the investor sells their old relinquished property. While this structure is more complex than a...
What Changed for Personal Property Exchanges Under the Tax Cuts and Jobs Act? 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...
Be sure to read our current 1031 Exchange Trends for 2024. And read past trends 2023, 2022, 2021, 2020, 2019, 1031 Exchange Updates & Impacts 2018, 1031 Exchange Trends for 2017, and 1031 Exchange Trends for 2016 1031 Trends January 2016 Nationally, there were a...
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:...
