Thought-provokinganalysis and opinion on federal tax issues

Category Archives: Real Estate

Proposed Section 1031 Real Property Regulations Contain A Glitch

June 12, 2020

by Monte A. Jackel

The IRS recently proposed regulations relating to the definition of real property for purposes of section 1031. https://www.federalregister.gov/documents/2020/06/12/2020-11530/statutory-limitations-on-like-kind-exchanges. These proposed regulations state that a number of regulations under section 1031 will no longer apply unless the exchange involves a qualifying exchange of real property. Among those listed final regulations are reg. sec. 1.1031(d)-2, dealing with […]

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Grantor Trust Ownership Again

June 5, 2020

by Monte A. Jackel

The IRS very recently expressed its view that changes in the ownership percentages of investors in a multiple owner grantor trust were sales and purchases for federal tax purposes. In Rev. Proc. 2020-34 https://www.irs.gov/pub/irs-drop/rp-20-34.pdf, the IRS provided safe harbors for an entity titled a statutory trust under Delaware law from being treated as having the […]

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