Answer: Section 1031 of the Internal Revenue Code allows a taxpayer who owns business or investment real estate to “exchange” the real estate the taxpayer wishes to sell (the “old property ...

Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”) provides that no gain or loss is recognized if certain qualifying property is exchanged solely for other qualifying ...

The Pennsylvania Department of Revenue has taken the position that those rules do not allow like kind exchanges that are exempt from tax under Internal Revenue Code Section 1031 exchanges to be ...

On March 5, 2010, the Internal Revenue Service (“IRS”) issued Revenue Procedure 2010-14, providing a new safe harbor method of reporting gain or loss ...