1031 Tax Reform Update – June 2018

As we all know, Section 1031 was preserved in the 2017 Tax Cut and Jobs Act (JCTA), but only for real property assets.  Personal property assets, such as machinery, equipment, vehicles, rolling stock, aircraft, collectibles and artwork, no longer qualify for...

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What Increases Tax Basis in a 1031 Exchange

What is tax basis? The term “basis” is the cost of a property for tax purposes.  When a property is initially purchased, its basis is the price paid for the property plus acquisition costs; often this is referred to as the “purchase money basis”.  Over the time the...

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How Tax Reform Helps Partnership Issues in 1031s

A partnership continues to exist until it is terminated. Before the Job Cuts and Tax Act, there were two ways that a partnership could be terminated. First, if no part of the business was carried on by any of its partners and second, if there was a transfer of 50% or...

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Non-Safe Harbor Reverse Exchanges

A “reverse” exchange occurs when the taxpayer acquires the Replacement Property before transferring the Relinquished Property. A “pure” reverse exchange, where the taxpayer owns both the Relinquished and Replacement Properties at the same time, is not permitted. As a...

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Exchange Cooperation Clauses

Relinquished Property Sale Contract “Notwithstanding anything to the contrary, Buyer hereby acknowledges that it is the intent of Seller to effect an IRC §1031 tax deferred exchange, which will not delay the closing or cause additional expense to Buyer. Seller’s...

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Post Tax Reform – Refresher Points for 1031 Exchanges

Tax Reform is behind us and we are happy to report that Section 1031 remains in the Tax Code. Now that investors and businesses have seen the details of the tax legislation, interest in structuring real estate transactions as 1031 tax deferred exchanges has seen great...

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1031 Exchange Updates & Impacts for 2018

2017 was another record year for 1031 exchanges. Tax reform spurred movement in the industry and the new law will greatly impact real estate and Section 1031. As we start this new year, here are some of the issues that will affect real estate and 1031 tax deferred...

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IPX1031 is a full service Qualified Intermediary with highly specialized exchange divisions to handle any type of exchange transaction nationwide.