Tax,
Real Estate/Development
Jul. 15, 2020
Opportunity zones an option as Section 1031 exchange relief fades
With the July 15 deadline for identifying exchange properties now behind us, many real estate investors in Section 1031 exchanges — which allow taxpayers to sell real property and reinvest the proceeds in similar property while deferring all capital tax gains — have run out of time.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
With the July 15 deadline for identifying exchange properties now behind us, many real estate investors in Section 1031 exchanges -- which allow taxpayers to sell real property and reinvest the proceeds in similar property while deferring all capital tax gains -- have run out of time.
Providing some respite for investors impacted by the coronavirus pandemic, on April 9, the Internal Revenue Service issued Notice 2020-23 extending Se...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In