Insights

The Tax Cuts and Jobs Act eliminates Section 1031 Exchanges for non-real estate transactions effective January 1, 2018. But you still have time to plan If you anticipated executing an early—2018 1031 Exchange with art, equipment, or other non-real estate investment assets. The Act includes a transition rule that allows…

Last year on the blog, we reported a Tax Court decision approving “reverse” 1031 Exchanges in which a taxpayer acquires replacement property more than 180 days before disposing of relinquished property. The IRS recently announced it will not follow the Tax Court decision and may seek future challenges in other…

When a landowner sells to a condominium developer, both the landowner and the developer have motivations favoring the developer “paying“ the landowner with finished condominium units instead of cash. Such a transaction reduces the developer’s up-front cash investment while sometimes enabling the developer to use all the land as collateral…

A 1031 Exchange is a popular capital gains deferral strategy for business and investment property. Taxpayers use the strategy to defer capital gains tax on property “sold” by acquiring “like-kind” replacement property, usually in coordination with an intermediary or accommodation party. After deliberating for a decade, the U.S. Tax Court…