Section 1031 tax-deferred exchanges and their intricacies have been a substantial aspect of my law practice for many years, and are a regular feature in my blog. Given the large number of commercial property transactions in the San Francisco Bay Area involving highly appreciated real estate, it is hardly a surprise that I have spent a significant portion of my legal career … [Read more...] about “Sham” workarounds after failed Section 1031 exchanges may expose qualified intermediaries to penalties under new FTB guidance
Section 1031
Current challenges when highly appreciated California commercial real estate is owned by two or more people
The ownership of real property in California by more than one person can be one of the most complex situations that investors can get involved with. Nearly ten years ago, I prepared a special report that described various approaches for co-owners to employ to reduce the risks of holding title to commercial real estate. That guide discussed several options available to … [Read more...] about Current challenges when highly appreciated California commercial real estate is owned by two or more people
Recent Tax Court decision makes Section 1031 reverse exchanges less challenging
I have previously noted in my blog some of the practical benefits of the use of the “reverse exchange” allowed for deferral of gain under Internal Revenue Code Section 1031. For those of you who may not recall the specifics of this technique, in a reverse exchange, the taxpayer acquires the “replacement property” first before selling the “relinquished property”; contrast this … [Read more...] about Recent Tax Court decision makes Section 1031 reverse exchanges less challenging