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Like-kind exchanges have been permitted under the tax law since the 1920’s. Recently, however, there have been changes, both under section 1031 and throughout the tax law, that impact the way in which like-kind exchanges are structured. These changes include exchanges into “build-to-suit” property, the use of related party exchanges, disregarded entities, including single-member LLCs, partnerships and tenancy-in-common (TIC) exchanges. In addition, proposed regulations have been issued to clarify whether interest income on exchange funds are reportable by the exchanging taxpayer or the qualified intermediary. Despite the breadth and complexity of this still developing area, by the end of this conference, listeners can identify opportunities to use a like-kind exchange to defer otherwise taxable gain from the sale of real property and other assets.
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