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Archive for the ‘Like-Kind Exchanges’ Category

IN THE ZONE – The Opportunity Zone

Published: May 31st, 2018

By: Brian M. Stephens

Tax Reform Opens New Possibilities for Florida’s Real Estate Investors Ask a 6th grade student about the secret to successful real estate investments. The parroted answer might be – “location, location, location”. Ask a seasoned real estate developer the same question. The answer may be similar but with a slight refinement – like “find the […]

Posted in Articles, Tax Law Blog, Real Estate Tax, Like-Kind Exchanges, Internal Revenue Service, Real Estate Blog, Land Development, 1031 Exchanges

Florida’s Water Crises: Can We Afford The Solutions? (Part III)

Published: July 10th, 2017

By: Dana M. Apfelbaum Brad Gould Michael D. Minton

As we’ve discussed in Part I and Part II, the renewed focus on water projects due to discharges from Lake Okeechobee and the occurrences of blue/green algae is accompanied by a renewed effort to involve private landowners in the development of water attenuation projects. We’ve now explored the exceptions to the general rule that government […]

Posted in Articles, Tax Law Blog, Like-Kind Exchanges, Internal Revenue Service, CPAs, Tax Planning, Water Law Blog, Water Policy, Water Conservation, Water Management Districts, Indian River Lagoon, Lake Okeechobee

Reverse Like-Kind Exchange Qualifies For Section 1031 Non-Recognition Treatment

Published: November 16th, 2016

By: Stephen R. Looney

In Bartell v. Comm’r,[1] the Tax Court held that a reverse like-kind exchange made by a drug store chain which did not qualify for the safe harbor under Rev. Proc. 2000-37,[2] still qualified for non-recognition treatment under Section 1031. The Revenue Procedure was inapplicable because the replacement property was purchased before the publication of the […]

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Posted in Articles, Tax Law Blog, Like-Kind Exchanges, Internal Revenue Service, CPAs, S Corporations, IRS Appeals Office, Corporate

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 […]

Posted in Articles, Tax Law Blog, Audits, Tax-Free 1031 Exchanges, Like-Kind Exchanges, Internal Revenue Service, Federal Taxation, CPAs, Tax Planning, Income Taxes, Corporate

Dean Mead Seminar on March 27th: “Will the Recent Tax Changes Have a Major Impact on Your Real Estate Investments?”

Published: March 11th, 2013

The recently enacted American Taxpayer Relief Act of 2012, together with the new 3.8% tax on investment income that was added to the Code as part of the Patient Protection and Affordable Care Act, but first became effective for tax years beginning in 2013, are likely to have a significant impact on real estate investments.  […]

Posted in Articles, Events, Tax Law Blog, Real Estate Tax, Asset Sales and Purchases, Like-Kind Exchanges, Federal Taxation, Partnerships and LLCs, S Corporations, C Corporations, Tax Planning, Income Taxes

Renewed Interest in Like Kind Exchanges in 2013

Published: January 18th, 2013

The Internal Revenue Code Section 1031 allows taxpayers to defer the income tax on gains on the “sale” of property used in a trade, business or investment property if the taxpayer instead engages in an exchange of such property and acquires qualified replacement property (a “like-kind exchange”).  During calendar year 2012, with the knowledge that […]

Posted in Tax Law Blog, Real Estate Tax, Like-Kind Exchanges, Federal Taxation, Income Taxes

Tax Relief for Sale of Livestock Due to Drought

Published: July 13th, 2012

By: Dana M. Apfelbaum Brad Gould

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 […]

Posted in Tax Law Blog, Real Estate Tax, Tax-Free 1031 Exchanges, Like-Kind Exchanges, Internal Revenue Service, Federal Taxation, CPAs, S Corporations, C Corporations, Tax Planning, Income Taxes