1031 Exchange Expert: Qualified Intermediary, 1031 Exchanges, Accommodator, California and the U.S., etc., etc,

NEW TAX BILL AFFECTS EXCHANGES"CHANGES ARE EFFECTIVE FOR SALES CLOSING AFTER OCTOBER 22, 2004"In the post title "Converting A Rental to a Residence," we did not address the requirements if the property was originally purchased as a replacement property in a 1031 exchange. A quick summary, if  the...

SPLIT TREATMENT TRANSACTIONS "USE TWO TAX CODE SECTIONS TO YOUR ADVANTAGE"Continuing our discussion of primary residences and section 1031; in this post we look at how the two sections can be used simultaneously. ONE SALE - TWO TAX BREAKSA property owner selling a duplex, triplex or fourplex, whe...

CONVERTING A RENTAL TO A RESIDENCE "MANY TAXPAYERS CAN TAKE ADVANTAGE OF TWO TAX CODE SECTIONS"Continuing our discussion regarding the interrelationship between primary residences and and rental (investment) property under section 1031, we look at some of the issues to review with the tax advisor...

CONVERTING A RESIDENCE TO A RENTAL "REVENUE PROCEDURE 2005-14:APPLYING §1031 AND §121 TO A SALE"In the previous post we reviewed the requirements taxpayers must meet in order to qualify for their primary residence exclusion of either $250,000 or $500,000. In this post we examine the possibility o...

PRIMARY RESIDENCE RULES - SECTION 121 "ANSWERS TO FREQUENTLY ASKED QUESTIONS ABOUT THE 1997 PRIMARY RESIDENCE TAX LAWS (IRC §1031)"This week we will discuss the primary residence rules and the various 1031 exchange rules related to property in which the taxpayer may have used it as a primary resi...

What a great event that the Fresno County EDC, Phil Souza and Bobby Fena organized last night. There were over 700 attendee.The seven 7 panelists discussed the Fresno's various commercial markets (retail, industrial, office, agricultural and apartments) looking back at 2007 as well as looking for...

EASEMENTS "CAN AN EASEMENT BE EXCHANGED FOR REAL PROPERTY?" IRC Section 1031 does not limit like-kind property to certain types of real estate. The types of real estate which can be exchanged are extremely broad. The term refers to the nature or character of the property, rather than its grade or...

TIMESHARES AND REITS "DOES A TIMESHARE OR SHARE IN A REIT QUALIFY FOR TAX DEFERRAL?" A vast array of real property can be exchanged under Internal Revenue Code §1031 as qualifying like-kind property. Any real property held for productive use in a trade or business or for investment can be conside...

LIKE-KIND PROPERTY - WHERE LOCATED "WHERE DOES PROPERTY HAVE TO BE LOCATED TO QUALIFY FOR DEFERRAL?" The term like-kind property isn't specifically defined in the tax code. Any real property held for productive use in a trade or business or for investment can be considered like-kind property. Pro...

WATER RIGHTS (#39)"WATER RIGHTS QUALIFY FOR TAX DEFERRAL IN MANY STATES" The types of real property which can be exchanged under IRC Section 1031 as qualifying like-kind property are extremely broad. Any real property held for productive use in a trade or business or for investment - whether impr...