1031 Exchange Tid-bits

SB 1316 May Disallow Out of State Exchange Transactions The California State Legislature is currently considering amending how the state treats 1031 exchange transactions.  On April 22, 2010, State Senator Romero amended the proposed legislation to include a change to Section 1031 stating that if...

How to Defer Capital Gains Tax Liability on a Foreclosure Many Investors may be heading to the bank to turn in their keys on projects that did not work out as originally planned. Could those same investors wake up the following tax year with an unexpected tax headache. The discharge of the loan m...

In reviewing the Goolsby's case the Tax Court has held that the property acquired by the Goolsby's as part of their Section 1031 Exchange did not qualify as Replacement Property due to the fact that the Goolsby's moved into the property only two months after having acquired it through the use of ...

               As we come upon the ever approaching April 15th deadline for the annual tax filer, I wonder how many taxpayers will be hit hard due to the new provisions slipped into Section 121 Primary Residence Exemption.  Most taxpayers are not aware of a significant change to the primary resid...

Tax Relief ? Revenue Procedure 2010-14 for 1031 Exchange Investors; whose Intermediary has failed to fund the proceeds. With the downturn in the real estate market, over the last several years, there have been many times that fraud has been brought to the forefront of the average American.  The 1...