News & Analysis as of

Section 1031 Exchange Tax Cuts and Jobs Act Like Kind Exchanges

Freeman Law

Like-Kind Exchanges of Cryptocurrency—Recent IRS Guidance

Freeman Law on

In a recent Chief Council Advisory, the IRS found that certain cryptocurrencies did not qualify as like-kind exchanges under section 1031 prior to the Tax Cuts & Jobs Act of 2017. The IRS’s ruling, while limited to coin...more

Wyrick Robbins Yates & Ponton LLP

Final Like-Kind Exchange Regulations: What Is Real Property Anyway?

Just days before we all sat down to eat our Thanksgiving dinners, the Treasury Department gave us something else to digest:  final like-kind exchange regulations. These regulations define “real property” for purposes of Code...more

McGlinchey Stafford

IRS Proposes New Like-Kind Exchange Regulations

McGlinchey Stafford on

The 2017 Tax Cut and Jobs Act (TCJA) limited like-kind exchanges occurring after 2017 to “real property held for productive use in a trade or business or investment if such real property is exchanged for real property of a...more

Mintz - Real Estate, Construction &...

IRS Issues Proposed Regulations on Section 1031 Like-Kind Exchanges

On June 11, 2020, the U.S. Treasury Department released highly anticipated proposed Treasury Regulations on like-kind exchanges under Section 1031 (the “Proposed Regulations”). The Proposed Regulations provide much-needed...more

Seyfarth Shaw LLP

US Department of Treasury Proposes Regulations Under Code Section 1031 That Provide Taxpayer-Friendly Guidance on Like-Kind...

Seyfarth Shaw LLP on

Seyfarth Synopsis:  On June 12, 2020, the US Department of Treasury (the “Treasury”) promulgated proposed treasury regulations (the “Proposed Regulations”) under section 1031 (“Section 1031”) of the Internal Revenue Code of...more

Kelley Drye & Warren LLP

IRS Proposes Regulations that Define Real Property for Purposes of Like-Kind Exchanges, Providing Welcome Relief, But the Proposal...

On June 11, 2020, the Internal Revenue Service (the “IRS”) issued proposed regulations that define the term “real property” for purposes of Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”)....more

Goulston & Storrs PC

Section 1031 Update: Proposed Regulations and the COVID-19 Relief Extension Date

Goulston & Storrs PC on

Summary - On June 11, 2020, the Treasury Department released proposed regulations regarding like kind exchanges under Internal Revenue Code section 1031 (“1031 Exchange”).  The regulations clarify a number of outstanding...more

Farrell Fritz, P.C.

The Like-Kind Exchange Of “Real Property” According To The Proposed Regulations

Farrell Fritz, P.C. on

The Taxable Exchange- As a general rule, a taxpayer’s exchange of one property for another property is treated as a taxable event; the gain realized by the taxpayer – meaning the amount by which the fair market value of...more

Proskauer - Tax Talks

Players, Staff and Draft Picks May be Traded Tax-Free Under New Safe Harbor

Proskauer - Tax Talks on

On April 11, 2019, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2019-18, creating a safe harbor that allows professional sports teams to treat trades of personnel contracts (including contracts for...more

A&O Shearman

IRS Guidance on Taxation of Professional Team Trades

A&O Shearman on

The Internal Revenue Service (“IRS”) issued Revenue Procedure 2019-18 that provides a safe harbor provision for professional sports teams that allows a team to treat the value of a traded player, draft pick, or staff members,...more

Farrell Fritz, P.C.

Deferring Real Property Gain: Like Kind Exchange Or Opportunity Fund? (Part II)

Farrell Fritz, P.C. on

Yesterday, in Part I, we reviewed the like-kind exchange rules. Now we turn to the new kid on the block. Qualified Opportunity Zones- The Act added Section 1400Z-2 to the Code, which allows a taxpayer to elect to...more

Farrell Fritz, P.C.

Deferring Real Property Gain: Like Kind Exchange Or Opportunity Fund? (Part I)

Farrell Fritz, P.C. on

The Act- Among the business transactions on which the Tax Cuts and Jobs Act has had, and will continue to have, a significant impact is the disposition of a taxpayer’s interest in real property, whether held directly or...more

Locke Lord LLP

Art Collectors: Consider this before your next sale

Locke Lord LLP on

An art collector looking to sell or exchange one or more works from his or her collection may be able to defer recognition of the capital gains on the transaction thanks to a recent change in the tax laws....more

Mitchell, Williams, Selig, Gates & Woodyard,...

Repeal of the Personal Property Like-kind Exchange (… or, the Swap of §1031 for Increased Bonus Depreciation and Expensing)

One of the lessor discussed items in the recently enacted Tax Cuts and Jobs Act (“TCJA”) has been the change to Section 1031, limiting the like-kind exchange provisions to exchanges of real property only. Section 1031 of...more

Whitman Legal Solutions, LLC

Tax Cuts and Jobs Act Changes Considerations in Section 1031 Exchanges

In a “Sizing Up in Violins and Investment Real Estate,” another post in the Orchestrating Real Estate series, I discussed how buying increasingly larger (and more expensive) violins compares to real estate investments. I...more

Tonkon Torp LLP

Big Changes to 1031 Exchanges, But Not for Real Estate (Yet)

Tonkon Torp LLP on

Section 1031 of the tax code allows sellers of investment property to defer capital gains if the proceeds are reinvested in "like kind" property within certain timeframes. Prior to 2018, 1031 exchanges could be used for many...more

Pullman & Comley, LLC

Limitation of Use of 1031 Exchanges Limit Nonrecognition of Gain

Pullman & Comley, LLC on

Business owners have long taken advantage of the tax deferral benefits of so-called “1031 exchanges” or “like-kind exchanges.” Generally, an exchange of property, like a sale, is a taxable event. However, Section 1031 of the...more

Sullivan & Worcester

Impact of 2017 Tax Act on Real Estate Activities

Sullivan & Worcester on

The first, global observation to share is that the real estate industry dodged a lot of potential bullets during the tax reform process and came out smelling like roses – indeed, actually came out ahead, overall, under the...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part II: IRC § 1031 and Tax Deferred Exchanges Take a Haircut

Foster Garvey PC on

BACKGROUND - On February 21, 2014, then House Ways and Means Committee Chairman Dave Camp (R-Michigan) issued a discussion draft of the “Tax Reform Act of 2014.” The proposed legislation spanned almost 1,000 pages and...more

19 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide