Search results with tag "Section 1031"
Like-Kind Exchanges Under IRC Section 1031
www.irs.govSection 1031 regulations. Gain is deferred, but not forgiven, in a like-kind exchange. You must calculate and keep track of your basis in the new property you acquired in the exchange. The basis of property acquired in a Section 1031 exchange is the basis of the property given up with some adjustments.
Part I Section 1035.--Certain Exchanges of Insurance Policies
www.irs.govSection 1035(d)(2) cross-references ' 1031 for the rules to determine the basis of property acquired in a ' 1035 exchange. Section 1031(d) provides that property acquired in a ' 1035 exchange has the same basis as that of the property exchanged, decreased by the amount of any money received by the taxpayer and increased by any
2019 Form 593-C - Real Estate Withholding Certificate
www.ftb.ca.govThe transfer qualifies as a simultaneous like-kind exchange within the meaning of IRC Section 1031. 11. The transfer qualifies as a deferred like-kind exchange within the meaning of IRC Section 1031. 12.
Planning for a Drop and Swap - 1031
www.1031.usa percentage of the gain. Section 1031 of the tax code allows the owner of property to exchange/swap for new replacement property and defer paying the taxes. The process defined in Treasury Regulation 1.1031, has very specific steps and timing parameters to accomplish an exchange properly.