James Brennan's (jamesbrennan2) Blog

To figure the basis of property you get as a gift, you must know its adjusted basis to the donor (aka the "Gift Giver") just before it was given. You must know its fair market value (FMV) at the time it was given, and whether any gift tax was paid. If the FMV of the property at the time of the gi...

In a 1031 Like-Kind exchange you can exchange any real property for any other real property within the United States or its possessions if said properties are held for productive use in trade or business or for investment purposes. Examples of 1031 like-kind exchange property include apartments, ...