by admin | 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 admin | 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 admin | Dec 28, 2018 | Realty Exchange Corporation
there is plenty of chatter and hype about investing in Qualified Opportunity Funds (QOF) to defer real estate capital gain. The Qualified Opportunity Zones (QOZ) and Qualified Opportunity Funds (QOF) were created in TCJA legislation a year ago, but there are still...
by admin | Oct 25, 2018 | Realty Exchange Corporation
Realty Exchange highly recommends the 15th edition of Every Landlord’s Tax Deduction Guide, written by Stephen Fishman, J.D., and published by NOLO. Get a copy here. Link: https://store.nolo.com/products/every-landlords-tax-deduction-guide-dell.html...
by admin | Oct 24, 2018 | Realty Exchange Corporation
Qualified Opportunity Funds (QOFs, which invest in Opportunity Zones) are not eligible as replacement real estate in a 1031 exchange. For those with questions about investing in QOFs as an alternative to a 1031 exchange, you can review the proposed IRS regulations at...
by admin | Oct 23, 2018 | Realty Exchange Corporation
Will individual landlord taxpayers be able to claim a 199A 20% deduction of net rental income? The question begs clarity. At a meeting with the IRS, advocates said proposed Section 199A regulations should clearly state that all rental real estate is a trade or...
