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Avoiding One of the Most Common Mistakes in a 1031 Exchange

Even the most attentive taxpayer can invalidate a 1031 exchange by — unintentionally — violating the “same taxpayer” rule. While simple in concept, a few examples show how mistakes can be made. Let’s start with the basic rule first. The “taxpayer” looking to defer recognition of taxes using an exchange must be the “same” both […]

avoid this 1031 mistake in 2019

Avoid Making this 1031 Exchange Mistake in 2019

A 1031 exchange is a powerful vehicle to build wealth by permitting taxpayers to defer capital gains, and depreciation recapture, through a properly executed transaction. But the rules governing exchanges are a “safe harbor,” meaning that the failure to comply exactly with these technical rules will violate the exchange and force the taxpayer to recognize […]

Filing Your Tax Return After Selling Property In A 1031 Like Kind Exchange

Filing Your Tax Return After Selling Property in a 1031 Like Kind Exchange: A Hidden Landmine in a Safe Harbor

Section 1031 which permits deferral of gains for the sale and subsequent acquisition of a “like kind” property is a powerful tax device for savvy investors. But the rules governing exchanges are a “safe harbor,” meaning that the failure to comply exactly with these technical rules will violate the exchange and force the taxpayer to […]