The New §1031 Handbook
Good News for Real Estate Investors
by
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Some types of personal property are collectibles (stamps, coins, dolls etc.) In 1997, the tax rules on the sale of collectibles changed substantially and the gain realized on the sale of collectibles is currently taxed at a flat 28%.
It is important that anyone entering into a tax deferred exchange have a clear understanding of the process, the help of their tax preparer and be aware of court decisions regarding exchanges especially those involving personal property.
So, just what is like-kind?
A rule of thumb:
Real Estate - Virtually all properties that are not for personal use are like-kind to each other.
Personal Property - Is required to meet a slightly higher standard called Asimilar use.”
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About the Book
Properties for sale and purchase are not created equal. There are differences in structure, order and disorder. Differences arising over ownership and title, shared ownerships, tenants-in-common, joint partnerships, and corporate properties, all of which may, in part, combine to make each exchange unique. Real Estate Investors need guidance and “The 1031 Handbook” is just what the doctor ordered.
The basic principles of exchanging are revealed quickly to both new investors and those seasoned veterans in need of a quick review. The process is discussed in easy to understand language and formatted for comfortable reading. The Handbook includes a “frequently asked questions” section, appendices to clarify key issues, a glossary, case studies, and abstracts of court cases. Information is power.
About the Author
Bettye J. Matthews, CPA, is licensed to practice public accounting in
She has been active in presenting professional development seminars for CPA organizations in six states. As a lecturer she developed and presented seminars on real estate taxation at the
She is currently President of
Married for 43 years to