Amount charged by qualified intermediaries for IRC section 1031 exchange transactions; Criteria for qualification under IRC section 1031; Definition of like-kind property; Rules for replacement property.SchierLewisMorrisEdwin B.CPA Journal
The Basics of the IRC§1031 Tax-Free ExchangeA.J. CataldoPh.D
In the case of a compulsory or involuntary conversion described in paragraph (1), subsection (a)(2)(B)(i) shall be applied by substituting “3 years” for “2 years”. (h) Special rules for property damaged by presidentially declared disasters — (1) Principal residences — If the taxpa...
If property was acquired on an exchange described in this section, section 1035(a), section 1036(a), or section 1037(a), then the basis shall be the same as that of the property exchanged, decreased in the amount of any money received by the taxpayer and increased in the amount of gai...
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(f) Special rules for exchanges between related persons — (1) In general — If — (A) a taxpayer exchanges property with a related person, (B) there is nonrecognition of gain or loss to the taxpayer under this section with respect to the exchange of such property (determined without reg...
(D) Special rules — (i) Reduction not to exceed adjusted basis of property — No reduction in the basis of any property under this paragraph shall exceed the adjusted basis of such property (determined without regard to such reduction). ...