Industry experts at California-based Peak 1031 Exchange applauds lawmakers for preserving popular real estate investment tool The Inflation Reduction Act was passed by Congress and signed into law by President Biden on August 16, 2022 without any … View more >>
The Federal of Exchange Accommodators (FEA), the trade association for 1031 Exchange practitioners, recently issued an update on 45-day and 180-day deadline postponements as a result of 2021 storms that meet the IRS “Disaster” criteria. What follows … View more >>
For an exchange to satisfy IRC §1031, the taxpayer that will hold the title to the Replacement Property must be the same taxpayer that held title to the Relinquished Property. However, business considerations, liability issues, and lender … View more >>
The IRS finally released its eagerly-awaited updates to Section 199A, and while the latest version of the code faces its final edits, the time of speculation is over. Commercial real estate agents and investors now get a … View more >>
The issue of whether a “second home” or “vacation home” qualifies for tax deferral under IRC Section 1031 has always constituted a major question asked by real estate investors. Knowing the specifics enables taxpayers to achieve a … View more >>
The rules surrounding 1031 exchanges, or tax-deferred property transactions, can be confusing. If you have real estate assets that are eligible for 1031 exchanges, it is important to understand what closing costs and other expenses may be … View more >>
Real estate investors and professionals take note: as a seller subject to California’s income tax laws, the California legislature instituted reporting requirements for parties you exchange California property under IRC Section 1031 for non-California replacement property. California … View more >>
At the end of 2015, new provisions that resulted in significant changes to the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) rules regarding federal income taxes for foreign investors owning United State real estate … View more >>
IRS Code §1031 clearly states that for a property to qualify as a tax deferred exchange during a transaction, it must be “held for investment.” There wide interpretation of the clause “held for investment” among tax professionals … View more >>
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