Like-kind-exchange related party rule triggered gain recognition despite use of qualified intermediary Ocmulgee Fields, Inc. (2009) 132 TC No. 6 Mike Habib, EA Tax Relief Services The Tax Court has held that a taxpayer could not avoid the like-kind-exchange related-party rule by using a qualified intermediary. The taxpayer had to…
IRS OKs use of one property to engineer a reverse and forward like-kind swap Chief Counsel Advice 200836024 In Chief Counsel Advice (CCA), IRS has given its blessing to the use of one property to engineer both a completed reverse like kind exchange and an attempted forward like kind exchange.…
Like-Kind Exchanges Under IRC Code Section 1031 Mike Habib, EAmyIRSTaxRelief.com Whenever you sell a business or an investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying…