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Archive for the ‘Tax-Free 1031 Exchanges’ Category

Eighth Circuit Denies Like-Kind Exchange Treatment to Taxpayer Attempting to Avoid Related Party Rules of Section 1031(f)

Published: March 30th, 2015

By: Stephen R. Looney

In North Central Rental & Leasing, LLC,[1] the Eighth Circuit Court of Appeals determined that the taxpayer, North Central Rental & Leasing, LLC (“North Central”) had improperly claimed non-recognition treatment under Section 1031 with respect to gains from certain property exchanges. Butler Machinery Company (“Butler Machinery”) sold agricultural, mining and construction equipment for manufacturers, primarily […]

New TAM May Curtail Ability of Community Development Districts to Issue Tax-Exempt Bonds

Published: August 9th, 2013

By: Charles H. Egerton

Please note:  This Tax Tip column will be published in the September–October 2013 issue of The Journal of Passthrough Entities, a publication of Wolters Kluwer Tax and Accounting. Introduction: On May 9, 2013, a Technical Advice Memorandum1 (the “TAM”) was issued with respect to a community development district (“CDD”) in Florida. Although the CDD and the developer that was […]

Tax Relief for Sale of Livestock Due to Drought

Published: July 13th, 2012

By: Brad Gould Dana M. Apfelbaum

Earlier today, CNN.com reported that over one thousand counties nationwide are suffering drought conditions.  Most of Florida’s counties are included in that list.  Each year since 2006 the Secretary of the Treasury has extended the four-year period to acquire property similar or related in service or use (“Replacement Property”) under §1033 of the Internal Revenue […]