|
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 involving partnerships; issues in the market place related to busted exchanges, exchanges of underwater property, and failed QIs; the use of related party exchanges; and the definition of “like kind” property. In addition, final regulations have been issued to clarify whether interest income on exchange funds is 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, attendees will be able to identify opportunities to use a like-kind exchange to defer otherwise taxable gain from the sale of real property and other assets. Presentation Objectives:
The objectives of this 60-90 minute webinar include providing participants with a conceptual understanding and practical application of the following: - Exchanges involving partnerships.
- Issues in the market place related to busted exchanges and exchanges of underwater property.
- Related party limitations and issues.
- Recent developments on the definition of “like kind” for real and personal property.
- Issues related to QIs and QI Accounts, including a discussion of recent QI failures.
Recorded on June 26, 2009, this event is available on CD for purchase.
|
