Code Section 1031
Internal Revenue Code Section 1031
- Inventory or stock in trade
- Stocks, bonds, or notes
- Other securities or debt
- Partnership interests
- Certificates of trust
What are the time limits to complete a Section 1031 Deferred Like-Kind Exchange?
Are there restrictions for deferred and reverse exchanges?
How do you compute the basis in the new property?
- Descriptions of the properties exchanged
- Dates that properties were identified and transferred
- Any relationship between the parties to the exchange
- Value of the like-kind and other property received
- Gain or loss on sale of other (non-like-kind) property given up
- Cash received or paid; liabilities relieved or assumed
- Adjusted basis of like-kind property given up; realized gain