(c) Loss from exchanges not solely in kind. If an exchange would be within the provisions of subsection (a), of section 1035(a), of section 1036(a), or of section 1037(a), if it were not for the fact that the property received in exchange consists not only of property permitted by such provisions to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property. (b) Gain from exchanges not solely in kind.

(ii) the due date (determined with regard to extension) for the transferor’s return of the tax imposed by this chapter for the taxable year in which the transfer of the relinquished property occurs. (i) the day which is 180 days after the date on which the taxpayer transfers the property relinquished in the exchange, or (B) such property is received after the earlier of. (A) such property is not identified as property to be received in the exchange on or before the day which is 45 days after the date on which the taxpayer transfers the property relinquished in the exchange, or

(3) Requirement that property be identified and that exchange be completed not more than 180 days after transfer of exchanged property -įor purposes of this subsection, any property received by the taxpayer shall be treated as property which is not like-kind property if. (E) certificates of trust or beneficial interests, orįor purposes of this section, an interest in a partnership which has in effect a valid election under section 761(a) to be excluded from the application of all of subchapter K shall be treated as an interest in each of the assets of such partnership and not as an interest in a partnership. (C) other securities or evidences of indebtedness or interest, (A) stock in trade or other property held primarily for sale, This subsection shall not apply to any exchange of. No gain or loss shall be recognized on the exchange of real property held for productive use in a trade or business or for investment if such real property is exchanged solely for real property of like kind which is to be held either for productive use in a trade or business or for investment. (a) Nonrecognition of gain or loss from exchanges solely in kind. What to do about Exchange Expenses in an ExchangeĮXCHANGE OF PROPERTY HELD FOR PRODUCTIVE USE OR INVESTMENT.1.1031(k) Treatment of Deferred Exchanges.Replacement Property Identification Form.What’s the First Step in a 1031 Exchange?.

Irc 1031