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The article focuses on the basics of like-kind exchanges of real estate under Section 1031 of the Internal Revenue Code (IRC) and the implications of recent regulatory changes. Topics include the basic requirements for like-kind exchange treatment, updates to the definition of real property, and key considerations for taxpayers engaging in these transactions.

The article reports on the final regulation from the U.S. Internal Revenue Service (IRS) on like-kind exchanges of real property, which were published on December 2, 2020. It discusses some background on like-kind exchanges and then examines how the final regulations define real property for purposes of like-kind exchanges. One important requirement mentioned by the new regulations requires that the deal must be structured as an exchange.

The article focuses on the use of like-kind exchanges in minimizing the income tax of investments in private foundations. Topics include the potential impact of reinvesting proceeds in reducing the foundation's tax liability to the U.S. Internal Revenue Service (IRS), the gains from the property sales, and the rules regarding real property exchanges.

The article presents an overview of the basic like-kind exchange rules under the U.S. Internal Revenue Code (IRC). It provides a brief summary of the basic concepts of the German Controlled Foreign Corporations (CFC-) rules. It describes the potential consequences of a like-kind exchange of the U.S. property by a U.S. corporation owned and controlled by shareholders resident in Germany under German CFC-rules.

The article offers information about the income tax index for 2011 fourth quarter from the U.S. Department of Revenue. It mentions that copies of the ruling letters are available for inspection and may be bought for a minimum of $1.00 per opinion plus 50 cents per page. Moreover, general information letters are issued by the Department in response to written inquiries from industrial associations, taxpayers, and taxpayer representatives,

The article focuses on the build-to-suit like-kind exchange in the real estate business in the U.S. In structuring a build-to-suit exchanges, several tax and non-tax concerns must be considered including the safe harbor of Revenue Procedure 2000-37, the identity of the accommodation party and the protection of the taxpayer's contractual rights. The key in organizing such exchange is tax ownership of the property that is being improved.

The article focuses on the utilization of a related-party like-kind exchange in condominium and development conversions under Section 1031 in the U.S. The use of such exchange can attain deferral of gain recognition and prohibit the recharacterization of the gain on the inclination of the replacement property as ordinary income. Such rule offers planning opportunities for real estate developers who need to keep away from the obstacles underlying the Bramblett technique.

The article focuses on U.S. Internal Revenue Service (IRS) letter rulings dealing with like-kind exchange transactions. It notes Letter Ruling 201027036 which states that Section 1031 (f) does not induce gain recognition in a qualifying like-kind exchange when a taxpayer transfers relinquished property through a qualified intermediary (QI). It also mentions Letter Ruling 201030020 which states that a bank may function as a QI and qualified trust (QT) for the same customer in a deferred like-kind exchange.

The article focuses on the Chief Counsel Advice (CCA) memorandum issued by the U.S. Internal Revenue Service (IRS) which aims to provide guidance on like-kind exchanges of aircraft. It states that the memorandum clears whether aircrafts are held for productive use in a trade or business when held by a special-purpose entity. It mentions that the guidance centers on a partnership that owned various aircrafts.

The article focuses on the proposal of the U.S. Senate and House to eliminate the Internal Revenue Code Section 1031 or like-kind exchange. It is considered as the most effective tax code provision as it allows taxpayers to defer tax provided it will invest in like-kind assets. It notes that a repeal of Section 1031 will lead to slow economic growth, affect real property owners, and reduce gross domestic product growth. A diverse range of industry calls the Congress to preserve such section.

This article reports on developments regarding accounting related issues in the U.S. The certified public accountant (CPA) can no longer ignore expertise with computers as an important addition to his other skills. At the income tax preparation roundtable, it was disclosed that many commercial tax preparation plans are now available to CPA. A special institute committee charged with implementing the recommendations of the Wheat Report was expected to place proposed bylaws and article of incorporation before the Institute's Board of Directors. INSET: New Hardware, Software, Services for the EDP-Oriented CPA.

The article focuses on the development of like-kind exchange rules in the U.S. Topics include the reasonable exceptions to the like-kind exchange rules, the disposition of assets, and exchanges involving related parties. Information is provided on qualified intermediaries U.S. Internal Revenue Service's (IRS) Chief Counsel Advice (CCA) 201238027 on real and personal property.

Like-kind exchanges can vary greatly in their complexity. Basic transactions may require little mental horsepower to conduct, but some can be extremely tricky. [ABSTRACT FROM AUTHOR]

Provides tips for engaging in a like-kind real estate exchange in the United States to avoid tax on capital gains when selling an investment property. Tax policies governing real estate and investment property; Tax exemptions; Existing policies for swapping real estate.

The article reports on the issuance of Revenue Procedure (Rev. Proc.) 2010-14 by the U.S. Internal Revenue Service (IRS) that will not treat taxpayers as being in actual or constructive receipt of exchange proceeds if the exchange is incomplete in bankruptcy or receivership. The qualified intermediary (QI) is used by taxpayers in like-kind transactions, where the relinquished property is transferred to the QI, who will sell the property to a buyer. Under the safe-harbor gross profit method, the payment to the relinquished property is recognized as gain.

• Many taxpayers assume that the gain deferral provided by a like-kind exchange always makes a like-kind exchange of an eligible property more advantageous from a tax standpoint than a sale of the property. However, depending on a taxpayer's situation, a like-kind exchange may not be better from a tax standpoint than a sale of the property followed by a purchase of new property. • In comparing a like-kind exchange of properties with a sale or purchase of property, the taxpayer must take into account the difference in depreciation deductions after the two transaction forms, the value of the deferral of the recognition of gain in a like-kind exchange, and the administrative costs of the like-kind exchange. • The absolute amount of tax savings provided by the deferral of gain in a like-kind exchange and the present value of those savings can be dramatically affected by changes in the taxpayer's marginal tax rates, the overall rates of tax on ordinary income and capital gains, and the taxpayer's rate of return on investments. [ABSTRACT FROM PUBLISHER]

Recommends rules that should be considered whenever cash is used within the structure of like-kind exchanges. Need to balance the financing; Use of a qualified intermediaries instead of an agent in dealing with cash; Impact of partnership rules on cash-outs.

This two-part article examines how recent developments in the principal residence exclusion and like-kind exchanges affect mixed personal- and business-use property. Part I describes the basic interaction between Secs. 121 and 1031. [ABSTRACT FROM AUTHOR]

The article offers information on the 1031 exchange also known as like kind exchange which refers to the RS Code Section 1031 for farmers who consider trading of one farm for another one including the basic rules, learning how to do selling and reverse 1031 exchange.

The Internal Revenue Service is reminding taxpayers about a change under the new tax law that limits exchanges of property. [ABSTRACT FROM AUTHOR]

The article offers information on the U.S. Internal Revenue Service's (IRS) internal legal memorandum ILM 201325011, which involved an equipment leasing company that used a like-kind exchange (LKE) program to defer paying income taxes on taxable gains from dispositions of their construction rental/lease equipment. Topics include tax deferral from an LKE program, maintaining unproductive cash balances, and repeal of LKE.

The article highlights the potential implication of combining cost segregation and 1031 like-kind exchanges in the U.S. It is claimed that cost segregation and the 1031 exchange are two of the most important tax planning strategies available for commercial real estate investors. 1031 exchange is believed to be vulnerable when a taxpayer plans to hold real property even for a small period of time.

The article presents a quiz concerning Tax Cuts and Jobs Act laws, along with test the knowledge of the like-kind exchange rules.

This article offers information on the association of like kind exchanges with qualified intermediaries (QI) in the U.S. A taxpayer exchanges a property for one which is similar and defers the tax consequences. QI deals must limit the right of taxpayers to receive, borrow, pledge or benefit from the funds. The ban on funds-access during the transaction only applies to taxpayers and not to the QI.

The article discusses the like-kind exchange in the sector of real estate, as an opportunity of exchanging the disposable assets for the acquisition of replaced assets without any tax liability. It offers information on the exchange that acts like real estate investment property with the another real estate property transfer and exchange. The rules of the exchange includes real state sale with a taxable entity, joint venture agreement between the partners, and tax free transaction.

The article presents questions and answers related to businesses in the U.S. Tim Pedersen, chief executive officer (CEO) of Right Brain Branding Consultants, warns that stock photographs are appropriate only for quick-hit campaigns and marketing purposes. One reader who is concerned about the taxes that may arise from the sale of his retail store asks how the like-kind exchange works.

Reports on the role of like-kind exchanges of commercial real estate allowed under Internal Revenue Code 1031 tax deferred exchange in tax savings in the U.S. Advantages of an exchange of a like-kind investment property; Exemption of sales of personal homes from capital gains taxes; Consideration for like-kind exchange for the sale of investment property.

The article reports that a proposal to gut 1031 exchanges of their tax advantages is causing shopping center investors in the U.S. to be anxious. The term refers to Section 1031 of the Internal Revenue Code that allows deferral of capital gains and recapture tax on an investment property in exchange of a like-kind property instead of being sold for cash.

Thomson Reuters has added content on like-kind exchanges to its Checkpoint Catalyst tax research system to help tax practitioners secure tax deferrals for their clients. [ABSTRACT FROM AUTHOR]

The article reports on the conditions required for taxpayers to qualify a transaction as a deferred-like exchange under the U.S. Internal Revenue Code section 31. Under the IRC section 31, the conditions are the following: the replacement property must be determined within 45 days and the taxpayer must get the replacement property by the earlier of the due date of his or her income tax return or 180 days after the transfer. If the taxpayer's return is due before 180 days after the property transfer, he or she must apply for a filing extension in order to have the whole 180 days to get the replacement property.

The article discusses how art investors take advantage of like kind exchanges, the practice of selling works of art for profit and then using those profits to purchase more works of art and thus avoiding having to pay capital gains taxes. The author notes that legislators in the U.S. would like to limit the practice, which is also known as a 1031 exchange.