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...

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...

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...

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...

1031 Exchange Updates & Impacts for 2018

Be sure to read our current 1031 Exchange Trends for 2020. And read past trends 1031 Exchange Trends 2019,   1031 Exchange Trends for 2017 and 1031 Exchange Trends for 2016.   1031 Updates & Trends for 2018 2017 was another record year for 1031 exchanges. Tax...

Impact of the Tax Cut and Jobs Act on Sec. 1031

The Tax Cut and Jobs Act was signed into law on December 22, 2017, and took effect on January 1, 2018.  It is a complex modification to the Internal Revenue Code that will take some time to fully understand, notwithstanding that it became effective just nine days...

The Effect of the New Tax Reform Bill on Real Estate

It appears that House and Senate have reconciled the differences between their respective tax bills and a vote on the final bill may occur by the end of this week.  According to the Washington based non-profit public policy organization, The Real Estate Roundtable,...

How Did 1031 Fare in Tax Reform?

To keep your holiday season merry and bright, here are key 1031 updates and reminders: How Did 1031 Fare in Tax Reform? It’s official. The tax reform bill was passed in Congress and will become law effective 2018 once signed by the President. The very good news is...