Can You Exchange Domestic for Foreign Property Under Sec. 1031?
Friday, November 18
More often than you might expect, an investor is considering a #1031 exchange that involves property in and outside of the U.S. Unfortunately, current #IRS rules do not consider property within the US to be “like-kind” with property in a foreign country. Thus, a tax-deferred exchange is not possi...
Are 1031 Exchanges an "All or Nothing" Proposition?
Thursday, November 17
One of the nicer features of a #1031 exchange is that it is a flexible tool for exchanging your investment property. While for many investors the goal is total tax-deferral with the transaction, there are times when competing investment goals make that impossible.The good news is that a 1031 exch...
What Property Does Not Qualify for a 1031 Exchange?
Tuesday, November 15
Yesterday, I discussed what property qualified for a 1031 exchange. While the definition is fairly broad, there are some items of property that seem to meet the general criteria – held for business or investment purposes – but still do not qualify.This includes stocks, bonds, notes, securities an...
Does My Property Qualify for a 1031 Exchange?
Monday, November 14
So you are an #investor thinking about trading your current investment property for something else. Perhaps you’re relocating and want property closer to your new location. Or you’ve decided that you need a change in the type of investment you’re managing. Or myriad other reasons that investors l...
Will a 1031 Exchange Increase the Risk of Audit?
Thursday, November 10
The dreaded IRS audit. Nothing ratchets up the stress levels like receiving a letter in the mail telling you you’re going under the tax man’s microscope. Not surprisingly, this is a fairly common topic raised by investors considering a 1031 exchange. They usually wonder if conducting an exchange ...
The Wheels of Justice Move Slowly In Tax Court
Tuesday, November 08
For anyone who has ever had to deal with the stress of a lawsuit, it may seem like it takes an eternity to finalize the matter. In some cases, years and years. But how about 15 years?The recently decided case of Estate of George H. Bartell v. Commissioner, 147 T.C. No. 5 (August 10, 2016) is one ...