Tag Archives: IRS

Improving a Typical 1031

Section 1031 of the U.S. Internal Revenue Code provides real estate investors the opportunity to sell existing real property investments, reinvest the proceeds into the acquisition of qualified, like-kind replacement property, and defer recognition of capital gains realized from the sale to a later disposition, subject to time constraints and other regulations. Such a qualified … Continue Reading

Ninth Circuit Opens the Door, IRS Slams It Shut (an update to IRS: “Shea It Ain’t So!” The Ninth Circuit Opens the Door for Real Estate Developer to Defer Income Tax)

On April 7, 2017, the IRS issued Action on Decision 2017-03, confirming that the IRS would not follow the Ninth Circuit’s ruling in Shea Homes, Inc. v. Commissioner, 834 F.3d 1061 (9th Cir. 2016). The Ninth Circuit’s decision in Shea Homes was widely perceived as a significant, albeit narrow, win for taxpayers engaged in real … Continue Reading
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