News

May 31, 2023

May 2023 Disaster Relief Update

Throughout the month of May, the IRS has issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the below-referenced disaster areas....
Read More
May 11, 2023

Refinancing Before or After your 1031 Exchange

May 11, 2023 By: Julia Mastrotto, Esq., Counsel All too common is the question of refinance in proximity to an IRC Section 1031 exchange. The key takeaway being that a refinance...
Read More
April 27, 2023

April 2023 Disaster Relief Update

Throughout the month of April, the IRS has issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the below-referenced disaster areas....
Read More
March 28, 2023

1031 Exchange update – Tax relief for Mississippi due to severe storms, straight-line winds and tornadoes

March 28, 2023 From March 24, 2023, to March 25, 2023, severe storms, straight-line winds and tornadoes severely impacted areas of Mississippi. Due to the disruption caused by the storm,...
Read More
March 27, 2023

1031 Buyer Beware: Co-Ownership of Real Estate (Fractional TIC Interests) vs. Interests in Business Entities

March 24, 2023 By: Julia Mastrotto, Esq., Counsel Internal Revenue Code Section 1031 solely applies to the exchange of  real property, as personal property exchanges are no longer eligible.[1] Many...
Read More
March 23, 2023

1031 EXCHANGE UPDATE – TAX RELIEF FOR CALIFORNIA DUE TO SEVERE WINTER STORMS, FLOODING AND MUDSLIDES

March 22, 2023 IRS Updated 10/16/23: This news release has been updated to change the filing and payment deadlines from Oct. 16, 2023 to Nov. 16, 2023. The Nov. 16...
Read More
March 17, 2023

WHAT IS “INVESTMENT INTENT” IN A 1031 EXCHANGE? AND WHEN IS INVESTMENT INTENT MEASURED?

March 17, 2023 By: Julia Mastrotto, Esq., Counsel Internal Revenue Code Section 1031(a) provides that “no gain or loss shall be recognized on the exchange of real property held for...
Read More
March 9, 2023

FLIPPERS, DEALERS, & WHOLESALERS: WHAT IS INVESTMENT INTENT FOR PURPOSES OF A 1031 EXCHANGE?

March 9, 2023 By: Julia Mastrotto, Esq., Counsel IRC Section 1031(a) provides that “no gain or loss shall be recognized on the exchange of real property held for productive use...
Read More
February 24, 2023

1031 EXCHANGE NEWS UPDATE: Pennsylvania Conforms its State Tax Code to Federal §1031

By: James T. Walther, Esq., LL.M. General Counsel, Legal 1031 Exchange Services, LLC Updated 1/2/2023 – this law is now effective for 1031 exchanges where property is relinquished in 2023....
Read More
February 9, 2023

1031 EXCHANGE UPDATE: HOW TO AVOID A LITTLE-KNOWN TAX SEASON TRAP BY PRESERVING YOUR 180-DAY EXCHANGE PERIOD

IRC Section 1031 requires that exchanging taxpayers acquire all replacement property by the earlier of (i) 180 days from the sale of the relinquished property, or (ii) the Federal tax...
Read More

Share this page

Facebook
Twitter
LinkedIn
Email
#pf-content svg, #pf-content canvas {max-width:30px!important} .elementor-accordion-icon {display:none!important} #msform fieldset{display:none!important} #ic_signupform{display:none!important} .e-fas-circle{display:none!important} .elementor-button-text {display:none} #pf-app .pf-app-inner { flex: unset!important; }