by William Horan | Mar 8, 2019 | Vacation Homes
Safe Harbor for Vacation Home The IRS published Revenue Procedure 2008-16 for the purpose of providing a Safe Harbor under which the IRS will not challenge whether a dwelling unit with limited personal use qualifies as property held for productive use in a trade...
by Kendall P | Feb 2, 2019 | Realty Exchange Corporation
The TCJA was enacted in December of 2017. Some states have not changed their ‘date of conformity’ to conform to the provisions of the federal Tax Cut and Jos Act (TCJA). Personal property can no longer be exchanged under federal law, 1031 exchanges are limited to real...
by Kendall P | Jan 31, 2019 | Realty Exchange Corporation
A California realtor learns not to mess with the IRS. Taxpayer did an exchange of her relinquished two rental properties but acquired a residence as replacement property and used it as her principal residence. She obtained an owner-occupied loan on the replacement and...
by Kendall P | Jan 31, 2019 | Foreign Real Property Exchanges
Foreign investors can take advantage of the 1031 exchange process; however, the process is confusing and overly burdensome. (We have been involved with several FIRPTA 1031 exchanges.) The Real Estate Investment and Jobs Act has been introduced to eliminate FIRPTA....
by Kendall P | Jan 31, 2019 | Realty Exchange Corporation
The appeal of Sharon Mitchel vs. California is a CA Drop and Swap tax case we are watching closely. The case has potential national impact. The language of the 1031 law says you can exchange property that is held for investment or business purpose for replacement...
by Kendall P | Jan 31, 2019 | History
This year Realty Exchange Corporation celebrates 29 years as a Qualified Intermediary (QI). Founded in 1990 by Ed Horan (pictured), Realty Exchange continues its laser focus to provide 1031 exchange QI services for our clients. We thank the thousands of clients who...
