Many investors forget to consider the effect of Depreciation Recapture Tax when an investment property is sold.
Many investors forget to consider the effect of Depreciation Recapture Tax when an investment property is sold.
Parts One and Part Two of this missive will discuss some of the advantages and disadvantages of Delaware Statutory Trusts (DSTs).
There are a number of “exchange expenses” that will reduce the realized gain and recognized gain on a Section 1031 Exchange.
What happens if two or more taxpayers own property together, as tenants in common, and decide that they want to go their separate ways?
What happens to the 1031 Exchange validity when a transactional mistake causes a violation of IRS 1031 Exchange rules?
Over the past month, three attorneys have asked the same question; When can the Exchanger receive their funds back when a 1031 Exchange transaction fails to complete properly? What are the 1031 Exchange disbursement rules?
Can you use 1031 Exchanges for vacation-second homes? The answer is “yes” but there are very specific rules to follow.
FACTS–A very bright client of ours purchased two different properties a number of years ago. These two properties were in a developing area of Miami-Dade County.
THE PROBLEM: On a Section 1031 Tax Deferred Exchange, the taxpayer has 45 days from the closing of the sale of the relinquished property, to identify possible replacement properties.