Archive for Tax Deferred Exchange Issues

New Revenue Procedure on Qualified Intermediary Bankruptcy

The Internal Revenue Service has released Revenue Procedure 2010-14 in which it provides guidance and a safe harbor for reporting capital gains and losses arising out of certain failed or incomplete tax deferred exchange transactions. The Procedure covers situations in which the taxpayer’s failure to complete the exchange resulted from the failure of the taxpayer’s [...]

ESTATE WISE PLANNING with Doug H. Moy

Knowledge promotes understanding . . . understanding breeds creativity. . . .
By: Doug H. Moy
Consulting Specialist in Estate and Gift Taxation and Planning Member, National Association of Tax Professionals (NATP)
2010 Transfer Tax Update
In view of the unprecedented confusion brought about in the waning hours of the 1st Session of the 101st Congress, this issue of [...]

The Internal Revenue Tax Code – Section 1031 – “The Tax Deferred Exchange”

Abe Lincoln reportedly stated “A person who represents himself has a fool for a client”
Nelsonian Theory would agree with that concept.                                                                                                                                    However, it is wise to be well informed on critical technical subjects so that you can detect potential flaws and lapses in understanding of those who act on your behalf.
That being said… here is the Internal Revenue Code – [...]

Debt Over Basis Issues: a 1031 Exchange Solution

David Moore of Equity Advantage  and IRA Advantage  has created a brief and concise article dealing with the “mortgage over basis” or debt over basis issue, and how it can be solved by using the IRC Section 1031 Tax Deferred Exchange.
With David’s permission, I have included that article below.
 
Debt Over Basis article by David Moore


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