WebIntangible assets that are real property for purposes of section 1031 and this section include the following items: Fee ownership; co-ownership; a leasehold; an option to acquire real property; an easement; stock in a cooperative housing corporation; shares in a mutual ditch, reservoir, or irrigation company described in section 501 (c) (12) (A) … WebBefore amendment by the TCJA, IRC Section 1031 also applied to exchanges of tangible personal property and certain intangible personal property. TCJA modified IRC Section …
Sec. 1031. Exchange Of Real Property Held For Productive Use Or Inves…
WebJun 12, 2024 · Under current § 1.1031 (a)-1 (c), examples of exchanges of real property of a like kind include an exchange: By a non-dealer of city real estate for a farm or ranch; of improved real estate for unimproved real estate; and of a leasehold interest in a fee with 30 years or more to run for real estate. IV. Web(2) An individual and a corporation more than 50 percent in value of the outstanding stock of which is owned, directly or indirectly, by or for such individual; (3) Two corporations which are members of the same controlled group (as defined in subsection (f)); (4) A grantor and a fiduciary of any trust; cdc on the ba.5 variant
26 USC 61: Gross income defined - House
Web(a) In general Except as otherwise provided in this section, the basis of property in the hands of a person acquiring the property from a decedent or to whom the property passed from a decedent shall, if not sold, exchanged, or otherwise disposed of before the decedent’s death by such person, be— (1) WebI.R.C. § 1031(a)(2) Exception For Real Property Held For Sale — This subsection shall not apply to any exchange of real property held primarily for sale. I.R.C. § 1031(a)(3) … WebIRC § 1031 (a) (2) specifically provides that real property held primarily for sale does not qualify for tax deferral under section 1031. Following are examples of qualifying properties that could be exchanged: Raw land or farmland for … cdc on testing positive for covid