Mirror, Mirror: The Same Taxpayer Rule in 1031 Exchanges
One of the basic rules to complete a successful 1031 exchange is that the taxpayer selling the relinquished property must be the same taxpayer that
September 16, 2020
One of the basic rules to complete a successful 1031 exchange is that the taxpayer selling the relinquished property must be the same taxpayer that
The 1031 Regulations state that the ID letter must be signed by the exchanger or exchanger legal agent. The signed ID letter can be scanned
Since the letter isn’t sent to the IRS, how would they ever know that we swapped it for another one later? You received good advice.
When it comes to qualifying for a 1031 exchange, not all investment property is created equal. IRS Code Section 1031 allows the exchange of property
Yes, both are “like-kind.” However, land is not a depreciable asset, so be aware that you will trigger some tax consequence on the recapture of
You can. There is no requirement that you identify property to your QI before you submit a contract, though we recommend that you insert 1031
When considering a 1031 exchange on the sale of timberland, there are a number of factors that need to be examined. Timber transactions may vary
There are other types of property that can be fractionalized besides traditional real estate that still work in the context of a 1031 exchange. With
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