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Section 1031(a) of the Internal Revenue Code (26 U.S.C. § 1031) states the recognition rules for realized gains (or losses) that arise as a result of an exchange of like-kind property held for productive use in trade or business or for investment. It states that none of the realized gain or loss will be recognized at the time of the exchange.
1031 Exchange Rules and Requirements 45-Day identification period : Within 45 days of selling the relinquished property, the taxpayer must identify potential replacement properties in writing to ...
Section 1031 exchange—If a business sells property but uses the proceeds to buy similar property, it may be treated as a "like kind" exchange. Tax is not due based on the sale; instead, the cost basis of the original property is applied to the new property.
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Tax may be deferred if the seller of an asset puts the funds into the purchase of a "like-kind" asset. In the U.S., this is called a 1031 exchange and is now generally available only for business-related real estate and tangible property. Tax may be deferred if the capital gain income is reinvested into certain geographic areas.
To be taxed at the qualified dividend rate, the dividend must: be paid after December 31, 2002; be paid by a U.S. corporation, by a corporation incorporated in a U.S. possession, by a foreign corporation located in a country that is eligible for benefits under a U.S. tax treaty that meets certain criteria, or on a foreign corporation’s stock that can be readily traded on an established U.S ...
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