Definition The term “boot” is broadly defined as a taxpayer’s receipt of non-like-kind property in a 1031 exchange. As discussed more fully below, boot can come in many different forms. However, it is important to note that … View more >>
To have a fully tax-deferred 1031 exchange, an exchanger must: (1) buy replacement property of equal or greater value; and (2) use all the net proceeds from the relinquished property towards their replacement properties. For a variety … View more >>
At Peak 1031 Exchange, we are committed to providing the most up-to-date information to help you and your family benefit from new 1031 exchange deadline extensions announced by the IRS for eligible taxpayers affected by Hurricane Ian. … View more >>
At Peak 1031 Exchange, we are committed to providing the most up-to-date information to help you and your family benefit from new 1031 exchange deadline extensions announced by the IRS for eligible taxpayers affected by Hurricane Ian. … View more >>
Peak 1031 Exchange Inc. has been a long-time member and supporter of the Federation of Exchange Accommodators (FEA). In September, Peak 1031’s Kevin M. Levine and Joshua A. Messian attended the FEA’s annual conference, which was held … View more >>
Under Internal Revenue Code Section 1031, exchange of “stock in trade or other property held primarily for sale” will not qualify for tax deferral. Consequently, most properties owned by developers, builders, and people who perform rehabilitation work … View more >>
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 >>
As part of President Biden’s 2023 budget, the administration proposed severe limitations to 1031 exchanges. The proposal would allow taxpayers to defer up to $500,000 of capital gains ($1 million in the case of married individuals filing … View more >>
Many disaster extensions have been granted by the IRS in 2021. Accordingly, we thought it would be helpful to provide a summary of the relevant portions of Revenue Procedure 2018-58 that relate to 1031 Exchanges as well … View more >>
If the sale of your Relinquished Property closed on or between October 18, 2021 and December 31, 2021, the standard 180-day exchange period will be shortened. However, you can file for a tax extension by April 15, … View more >>
It appears that a $500,000 cap on capital gains deferral allowed under § 1031 of the U.S. Tax Code may no longer be part of the $3.5 Trillion Budget Reconciliation Bill making its way through congress. The … View more >>
Recently, the White House released the details of its American Families Plan, which includes a $500,000 cap on like-kind exchanges in order to pay for the proposal. In a recent communication from The Federal of Exchange Accommodators … View more >>
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