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- Like-kind exchanges - Real estate tax tips - Internal Revenue Service
Form 8824, Like-Kind Exchanges, is used to report a like-kind exchange Form 8824 Instructions provide information on general rules and how to complete the form Information about the like-kind exchange and requirements under IRS Code Section 1031 for recognizing a gain or loss
- Like-kind exchanges of real estate: Back to basics - The Tax Adviser
This item discusses the basic requirements for like-kind exchange treatment, explains updates to the definition of real property, and highlights issues that taxpayers should keep in mind when engaging in these transactions
- Like-kind exchanges of real property - Journal of Accountancy
For example, if taxpayers fail to identify replacement properties in a timely manner, or if the proceeds from the relinquished property are not properly handled by an independent third party, an intended like-kind exchange may be treated as a sale and subsequent purchase for tax purposes
- The Tax Treatment of Like Kind Exchanges
Under this provision, no gain or loss is recognized if a taxpayer exchanges eligible property for property of a like kind The taxpayer is required to recognize capital gain or loss, however, to the extent that the taxpayer receives money or non-like kind property in the exchange
- Mastering Form 8824: The Complete Guide to Like-Kind Exchanges
Form 8824, used for reporting Like-Kind Exchanges under Section 1031 of the Internal Revenue Code, can be a powerful tool for deferring capital gains taxes Let’s dive in
- Like-kind exchanges are now clearer - Journal of Accountancy
Under a Sec 1031 exchange, gain or loss may be recognized if money or property is received that is not of like kind to the relinquished property Because of the change under the TCJA, the effect of the receipt of personal property incidental to the taxpayer’s replacement real property in an intended Sec 1031 exchange has become an issue
- A Professional Guide to Like-Kind Exchanges of Real Estate: Basics . . .
Any cash or non-like-kind property received in the exchange (e g , personal property) triggers taxable gain to the extent of the boot Like-kind exchanges under Sec 1031 offer powerful tax deferral benefits but require careful adherence to technical requirements
- Managing real estate capital gains with like-kind exchanges (Section 1031)
Capital gains taxes may be deferred with proper planning and the use of like-kind exchanges Identifying the right replacement property and determining how best to manage it going forward is one of the crucial steps to helping ensure the success of a like-kind exchange
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