Like Kind Exchanges, Taxes and Real Estate

TIPS FROM THE IRS ON REPORTING NATURAL RESOURCE INCOME FS-2013-6, APRIL 2013 Taxpayers who own land that contains valuable natural resources should be aware that arranging for the development o...

http://1031cpas.blogspot.com/2013/04/tips-from-irs-reporting-natural.html

THE AMERICAN TAXPAYER RELIEF ACT OF 2012 has established the way long-term capital gains will be taxed in 2013 and in the future until the law is once again changed. The top rate for capital gain...

http://1031cpas.blogspot.com/2013/01/the-new-2013-capital-gains-tax-rates.html

FARM AND RANCH EXCHANGES PRESENT A HOST OF OPPORTUNITIES and challenges for taxpayers since they often include a mix of different assets with differing requirements and concerns under Code Sectio...

http://1031cpas.blogspot.com/2011/09/farm-and-ranch-exchanges.html

THE 2010 TAX RELIEF ACT ramped up the amount of write-off for 2011 equipment purchases. Two provisions of the Internal Revenue Code make it possible for purchasers to deduct the entire purchase c...

http://1031cpas.blogspot.com/2011/08/do-i-need-to-do-1031-exchange-of.html

REALTORS ARE OFTEN THE FIRST TO RECOGNIZE THE POTENTIAL BENEFITS OF A SECTION 1031 EXCHANGE TO A SELLER OF REAL ESTATE. When a seller is going to replace qualifying real estate with replacement r...

http://1031cpas.blogspot.com/2011/08/what-realtors-should-know-about-1031.html

1. CONTACT US TO OPEN AN EXCHANGE FILE FOR YOU BEFORE YOUR SALE CLOSES. We will consult you on the information we need to obtain from you. 2. FAX OR EMAIL US A COPY OF YOUR CONTRACT TO SELL YOUR...

http://1031cpas.blogspot.com/2011/07/your-1031-exchange-procedure.html

Federal Requirements - There are reporting and withholding requirements for sales of property to or by foreign persons or corporations (IRC §1445). Exchange Intermediaries should be familiar wi...

http://1031cpas.blogspot.com/2011/06/foreign-investment-in-real-property-tax.html

OIL, GAS AND MINERAL INTERESTS ARE REAL ESTATE INTERESTS which qualify for a like-kind exchange with any other qualifying real estate interest including - - A fee interest in real estate - Fracti...

http://1031cpas.blogspot.com/2011/06/exchanges-of-oil-gas-and-mineral.html

WHENEVER THE PHRASE “1031 EXCHANGE” COMES UP, most of us automatically think of exchanges of real estate since this is the most common type. However, 1031 exchanges are much broader than real...

http://1031cpas.blogspot.com/2011/04/1031-exchanges-apply-to-more-than-real.html

REVENUE PROCEDURE 2005-14 PROVIDES GUIDANCE on tax reporting issues under IRC §121 and §1031 for exchanges of property that are combination or dual-use residential and business/ investment prop...

http://1031cpas.blogspot.com/2011/04/how-to-report-exchange-of-property-used.html

Now that we are well into 2011, all of us at 1031 Corporation Exchange Professionals want to express our appreciation for the opportunity we have had over the last 20 years to be of service to ou...

http://1031cpas.blogspot.com/2011/02/thank-you-to-our-clients-and-friends.html

For Aircraft and Equipment purchased and placed in service after 09/08/10 and before 2012 the up-front §168(k) Bonus Depreciation deduction is increased to 100% by the 2010 Tax Relief Act. If a ...

http://1031cpas.blogspot.com/2010/12/exchanges-of-aircraft-and-equipment-can.html

Taxable Income recognized from a 1031 Exchange can be reported under the installment sale rules of IRC §453 if an exchange starts in 2010 and ends in 2011. Taxpayers who meet the requirements ...

http://1031cpas.blogspot.com/2010/11/year-end-tax-planning-opportunities.html

CAPITAL GAINS on the sale of assets held more than 12 months are taxed at a lower rate than ordinary income. The Jobs and Growth Tax Relief Reconciliation Act of 2003 and Tax Reconciliation Act o...

http://1031cpas.blogspot.com/2010/11/automatic-capital-gain-tax-rates.html

A "CONDEMNATION SALE" OF PROPERTY UNDER IRC §1033 IS NOT TAXED if the taxpayer replaces with qualifying replacement property within specified time limits. Following is a summary of the more impo...

http://1031cpas.blogspot.com/2010/10/section-1033-condemnation-sales-1031.html

Our Exchange clients frequently ask us about how to avoid taxable boot on an Exchange where option payments under an option contract or earnest money deposits have been received prior to the clos...

http://1031cpas.blogspot.com/2010/09/option-payments-earnest-money-deposits.html

A TAXPAYER MUST NOT RECEIVE "BOOT" from an exchange in order for a Section 1031 exchange to be completely tax free. Any boot received is taxable (to the extent of gain realized on the exchange). ...

http://1031cpas.blogspot.com/2010/08/rules-of-boot-in-1031-exchange.html

In today’s real estate market sellers often have to accept a sale price which is less than what was originally paid for a property. Sellers are often dismayed to learn that even if the property...

http://1031cpas.blogspot.com/2010/07/section-1031-exchange-may-be-helpful.html

When depreciable real estate is sold gain on the sale is taxed under the capital gains tax rules at a maximum of 25% to the extent of any depreciation taken on the property being sold. Gain in ex...

http://1031cpas.blogspot.com/2010/06/what-is-tax-rate-on-boot-received-in_21.html

Recently I received a report from Marcus & Millichap's Research Services that I found quite interesting. In the report, they point to the very real potential of further increases in homeowner de...

http://1031cpas.blogspot.com/2010/06/research-study-points-to-investment.html

A leasehold interest with a term of 30 years or more is like-kind to a fee interest in real estate (Reg. §1.1031(a)-1(c)(2)). Renewal options under the lease are counted for purposes of determi...

http://1031cpas.blogspot.com/2010/06/leasehold-interests-and-1031-exchanges.html

Reverse 1031 exchanges involve the purchase of Replacement Property prior to the sale of the property being sold (the Relinquished Property) in a like kind exchange. Since you are not able to ow...

http://1031cpas.blogspot.com/2010/05/reverse-improvement-exchange-financing.html

Many older taxpayers work to move wealth they've generated in their lifetimes from one generation to another while minimizing tax liability through estate planning. Intergenerational transfers of...

http://1031cpas.blogspot.com/2010/05/estate-tax-2010.html

Recently the topic of financial regulatory reform has been a hot item in the news. I recently became aware that there is a paper circulating in Washington with a proposed national regulatory bill...

http://1031cpas.blogspot.com/2010/05/1031-reguatory-reform-legislation.html

On April 27, 1990, company founder Larry Jensen CPA, formed 1031 Corporation Exchange Professionals to assist a taxpayer with an exchange of real estate under the provisions of Code Section 1031....

http://1031cpas.blogspot.com/2010/04/1031-corporation-exchange-professionals.html