In the News
IRS Extends Section 1031 Like-Kind Exchange Deadline
Each listed Disaster Areas has its own Disaster Date on which tax relief, including the extension of 1031 Exchange deadlines, is keyed. The IRS’s Disaster Relief Notices, in conjunction with Revenue Procedure 2018-58, give taxpayers two options to extend their 1031 Exchange deadlines: a general relief option (for Exchanges in progress on or after the…
Read MoreWhat To Do With Your Slice Of The Pie: 1031 Exchanges And Tenants In Common (TICs)
Tenants In Common (TIC) is a wonderful little arrangement wherein multiple owners each have a deeded interest in a property. That interest is a percentage or portion of the property. But can investors who hold an investment as Tenant in Common still take advantage of a tax deferred 1031 Exchange? Long answer short: YES! When…
Read MoreCombining 1031 Exchanges and Estate Planning
Section 1031 Like-Kind Exchange and Estate Planning A taxpayer and their heirs can benefit greatly from a 1031 Exchange when selling business- or investment-use real estate: Pay no tax at the time of selling the property, which allows for maximum reinvestment buying power. Reinvest in other business- or investment-use property in order generate/replace monthly income;…
Read More1031 Exchanges Serve as Vital Stimulant for Economic Growth
Section 1031 like-kind exchanges stimulate economic growth. Repealing or restricting 1031 in the guise of tax reform could quash the nascent real estate recovery. CHICAGO, April 2, 2013 /PRNewswire/ — After several years, real estate values are beginning to recover and activity is steadily increasing. It’s a promising trend that needs to be supported, not…
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