Product Description Code Section 1031 like-kind exchanges have an
essential place in business and investment tax planning. Indeed, there is an
entire industry that has grown up to support and consummate such exchanges on
the heels of the Starker decision, which validated deferred three-party
exchanges. The advent of corporate accommodators, and the adoption of
taxpayer-friendly regulations that codified much of the post-Starker practices
by tax advisors, have led to a large body of law, rulings and practices. The
apparent simplicity of Section 1031 has lulled many advisors into believing that
handling exchanges is simple. But the devil is in the details--and the
regulations can be understood only if you understand the evolution of the law
and the rulings leading to the regulations.
CCH's Like-Kind Exchanges Under Code
Section 1031 analyzes the essential legal means available to swap one
asset for another while holding a continuing investment of the same sort in a
tax-advantaged way. This brand new resource, written by seasoned exchange
practitioner, Nancy N. Grekin, J.D., is intended to aid tax and real estate
practitioners and professionals in understanding the various types of exchanges,
how to structure exchanges, the mechanics of handling exchanges, and the myriad
of details resulting from the related cases, IRS Rulings and Private Letter
Rulings--both before and after Starker and the regulations.
Written in clear, easy-to-understand language, Like-Kind
Exchanges Under Code Section 1031 introduces the law and defines the
important terms involved; it describes situations where such exchanges may be
advantageous and situations where such exchanges may be disadvantageous;
explains documentation procedures; examines case law and IRS rulings related to
such exchanges; and explores the like-kind test and other important provisions
of the law.
Topics covered include:
- Types of Exchanges
- Essential Elements of a Section 1031 Exchange
- The Starker Case and the Evolution of Deferred
Exchanges
- Deferred Exchanges Under the Regulations
- Tax Incidents of an Exchange: Exchange Value,
Boot, Basis and Recapture of Depreciation
- Mechanics and Documentation of Exchanges
- Multiple Property Exchanges
- Exchanges by Entities: Transfers of Exchange
Property to and from Entities
- Reverse Exchanges
- Build-to-Suit Exchanges
- Related Party Exchanges
- Personal Property Exchanges
- Reporting Code Section 1031 Exchanges
The expert author provides insightful cautions,
planning notes, examples and comments that clarify the practical application of
the law. Helpful sample documents and practical aids are provided in the
comprehensive Practice Tools section which include:
- Designated Property Exchange Agreement
- Buyer-Accommodator Exchange Agreement
- Assignment of Relinquished Property Contract
- Direct Exchange Agreement
- Build to Suit Exchange Agreement with
Accommodator
|
