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Safe Harbors Internal Revenue Service Section 1031 Exchange

Levenfeld Pearlstein, LLC

Practical 1031: What is an Internal Revenue Code Section 1031 Like-Kind Exchange?

Question: What is an Internal Revenue Code Section 1031 Like-Kind Exchange? Answer: Section 1031 of the Internal Revenue Code allows a taxpayer who owns business or investment real estate to “exchange” the real estate the...more

Farrell Fritz, P.C.

The Like-Kind Exchange Of “Real Property” According To The Proposed Regulations

Farrell Fritz, P.C. on

The Taxable Exchange- As a general rule, a taxpayer’s exchange of one property for another property is treated as a taxable event; the gain realized by the taxpayer – meaning the amount by which the fair market value of...more

A&O Shearman

IRS Guidance on Taxation of Professional Team Trades

A&O Shearman on

The Internal Revenue Service (“IRS”) issued Revenue Procedure 2019-18 that provides a safe harbor provision for professional sports teams that allows a team to treat the value of a traded player, draft pick, or staff members,...more

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