1031 Exchanges and Liabilities Related to Relinquished Property: Can I Pay Off Secured or Unsecured Debt Through my 1031 Exchange?
09/12/2023
Under IRC Section 1031 (b) and related guidance, it is a general principle that proceeds from a sale used in the exchange cannot be used to pay off liabilities that...
Read More
August 2023 Disaster Relief Update
08/31/2023
Throughout the month of August, 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
July 2023 Disaster Relief Update
07/31/2023
Throughout the month of July, 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 2023 Disaster Relief Update
05/31/2023
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
Refinancing Before or After your 1031 Exchange
05/11/2023
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 cannot occur as...
Read More
April 2023 Disaster Relief Update
04/27/2023
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
1031 EXCHANGE UPDATE – TAX RELIEF FOR MISSISSIPPI DUE TO SEVERE STORMS, STRAIGHT-LINE WINDS AND TORNADOES
03/28/2023
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
1031 Buyer Beware: Co-Ownership of Real Estate (Fractional TIC Interests) vs. Interests in Business Entities
03/27/2023
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
1031 EXCHANGE UPDATE – TAX RELIEF FOR CALIFORNIA DUE TO SEVERE WINTER STORMS, FLOODING AND MUDSLIDES
03/23/2023
March 22, 2023 Beginning March 9, 2023, a severe winter storm made landfall and resulted in flooding, landslides, and mudslides that severely impacted areas of California. Due to the disruption...
Read More
WHAT IS “INVESTMENT INTENT” IN A 1031 EXCHANGE? AND WHEN IS INVESTMENT INTENT MEASURED?
03/17/2023
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 productive use in...
Read More