Question 1: Can you sell your property to a related party and still qualify for a 1031 tax deferred exchange? Question 2: Can you buy your replacement property from a related party and still qualify for a 1031?
There are two important issues to consider when determining how to handle expenses in a 1031 exchange.
Written by James Miller, senior vice president, associate general counsel, Investment Property Exchange Services, Inc. Submitted by Patricia...
When an asset is sold for more than its original cost, there is gain which the IRS will tax at the “capital gains tax rate”. The amount of capital gain is calculated by taking the selling price of the asset minus its “adjusted basis”
Exchanges may be fully tax-deferred or partially tax-deferred and partially taxable. An exchange will be partially taxable if the taxpayer receives net non-like kind property, (boot) in the exchange.
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