Liberty 1031 Blog
Basic and Advanced Missives and Case Studies That Illustrate Successful Liberty 1031 Exchange Strategies.
Parts One and Part Two of this missive will discuss some of the advantages and disadvantages of Delaware Statutory Trusts (DSTs).
Most of you are aware that the taxpayer/exchanger has 45 days from the day of closing, the day of closing being the first day, to identify possible Replacement Properties when using a 1031 Exchange transaction to defer taxes. When the time comes to identify those...
There are a number of “exchange expenses” that will reduce the realized gain and recognized gain on a Section 1031 Exchange.
On November 23, 2020, the IRS issued the final regulations defining real property for Section 1031 Exchange purposes. Read on to learn how the IRS significantly expanded the definition of real property.
1031 Exchange transactions can help business owners leverage valuable cash to finance critical growth strategies. At least once a week I get asked: What are the benefits of doing a Section 1031 Exchange? I normally give the usual answer: Deferral of Taxes...
What happens if two or more taxpayers own property together, as tenants in common, and decide that they want to go their separate ways?
What happens to the 1031 Exchange validity when a transactional mistake causes a violation of IRS 1031 Exchange rules?
The good news is that IRS has issued 1031 Exchange Timeline Extensions on some 1031 deadlines. But the notice (Notice 2020 - 23) was not written like the past Disaster Relief Notices, so there may be more clarification to come. Last week I informed you of the work...
CAN THE GOVERNMENT GIVE AN EXTENSION TO THOSE PARTIES IN A SECTION 1031 EXCHANGE AS A RESULT OF THE CORONAVIRUS? Yes. Federal law permits the IRS to grant taxpayers affected by a federally declared disaster additional time to perform certain time-sensitive acts As...
Clients ask "What if the 1031 Exchange Fails to Complete?" Over the past month, three attorneys have asked the same question; When can the Exchanger receive their funds back when a 1031 Exchange transaction fails to complete properly? What are the 1031 Exchange...
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