When the 2017 Tax Cuts and Jobs Act narrowed the type of property eligible for like-kind exchanges to “real property,” it lowered the curtain on an active era of like-kind exchanges of artwork.

A taxpayer generally may exclude up to $250,000 ($500,000 for certain married couples filing joint returns) of gain realized on the sale or exchange of a principal residence. To be eligible for the ...

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 ...

It’s the oldest and simplest formula for accumulating wealth: Live the “buy low, sell high” dream by acquiring, holding and then selling property at a tidy profit. Unfortunately, resulting capital ...

A 1031 Like-Kind Exchange, named after Section 1031 of the U.S. Internal Revenue Code, is a strategic investment tool that allows real estate investors to defer capital gains tax on the sale of a ...

Real estate and investor clients often turn to something called "like-kind exchanges" to defer tax payments on gains from a recently sold property. Like-kind exchanges are a transaction or series of ...

About sixty years ago, New York revised its personal income tax law to achieve close conformity with the Federal system of income taxation. The stated purpose for the revision was to simplify tax ...

Strategies for the use of tax-deferred like-kind exchanges have grown over the years from almost exclusively a real estate concern to one in which billions of dollars of business tangible personal ...

Prior to the enactment of the legislation known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, the rules in Sec. 1031, which allow taxpayers to defer recognition of gain on a like-kind exchange ...