by William Horan | Apr 13, 2020 | Realty Exchange Corporation
This Notice provides an extension to July 15, 2020 for taxpayers whose 45-day identification period or 180-day exchange period fall between April 1, 2020, and July 14, 2020. Likewise, taxpayers engaged in reverse exchanges whose 45th day to identify relinquished...
by William Horan | Mar 24, 2020 | Extensions, Realty Exchange Corporation
Many of our clients are contacting us regarding the status of their 1031 exchanges due to the ongoing measures being implemented in response to the COVID-19 pandemic. We are monitoring the situation closely and wanted to provide an update to our clients regarding the...
by Kendall P | Apr 18, 2019 | Realty Exchange Corporation
The IRS issued proposed changes on April 17, 2019 to their draft proposed regulation on IRC section 1400Z-2, relative to Qualified Opportunity Fund investments....
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 | 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...
