David Ling (University of Florida) and Milena Petrova (Syracuse University), who co-authored the study -"The Economic Impact of Repealing or Limiting Section 1031 Like-Kind
Exchanges in Real Estate" - based their findings on more than 1.
1031 by exchanging California property and acquiring out-of-state like-kind
property to file an annual information return to report the exchange to us.
The tax and financial benefits of like-kind
exchanges of real estate are well known to property owners.
exchange rules may allow taxpayers to defer gain (or loss) realized on the exchange of property.
Unfortunately, the rules for like-kind
exchanges do not apply to exchanges of the following types of property:
Qualified intermediaries (QIs) and other facilitators of section 1031 exchanges expect to start seeing exchanges of trademarks and trade names now that the IRS has said they can be like-kind
property eligible for the tax-free transaction.
For the eco-wise investor who has done the land use and envisioning homework there are many exciting ways to produce positive outcomes, including the possibility of tax advantages such as those available through Federal and State programs and the 1031 Like-Kind
Exchange as defined by section 1031 of the Internal Revenue Code, 26 U.
How long must a replacement property acquired in a like-kind
exchange be held as an investment, rental, or business property before it can be converted to personal use, e.
Although anyone who owns investment or business property is eligible for this tax deferral benefit, Renee Collins formerly of RKC Tax and Financial Services, points out that "The IRS has a strict definition for like-kind
exchanges that must be adhered to.
When corporations are considering the disposition of business assets, one of the issues that frequently arises is whether a like-kind
exchange under section 1031 of the Internal Revenue Code might be available to defer gain recognition.
Real estate investors have long recognized the tax benefits of like-kind
exchanges under Internal Revenue Code Section 1031.
The new complexity of 1031 exchange often requires different kinds of appraisal work because virtually all real property can be considered like-kind
, and thus eligible for exchange.