1031 Exchanges and cost segregation studies are more
popular than ever for the advantages they offer the taxpayer. In order to use
both strategies on the same property, taxpayers must not only understand if the
properties are like-kind, but also navigate around the depreciation recapture
rules. This course addresses if and when cost segregation is appropriate for the
frequent exchangor, the benefits and challenges associated with combining the
strategies, and pre-exchange planning.
I.
THE POWER OF STRATEGY:
MASTERING ADVANCED §1031 EXCHANGE CONCEPTS
A. Exceptions
1. Property Held forSale
2. Partnership Issues
II. EXCHANGE ENTITIES
III. DEFINITION OF LIKE-KIND
PROPERTY
A. What is
Excluded?
B. Qualifying Real
Property
C. Qualifying Personal
Property
D. Holding Period
Issues
E. Vacation/2nd
Homes
F. Tenant-in-Common (TIC) Ownership
Programs
IV. THE EXCHANGE
EQUATION
A. Rules for full tax deferral and
boot analysis
V. CLOSING COSTS
VI. RELATED PARTY
RULES
A. Who is a Related
Party?
B. Simultaneous
Exchange
C. Delayed
Exchange
1. Selling to a Related
Party
2. Buying from a Related
Party
3. Buying from a Related Party who
is Exchanging
VII. SPLIT TREATMENT
EXCHANGES
VIII. THE DELAYED EXCHANGE WITH A
QUALIFIED INTERMEDIARY
IX. IDENTIFICATION
RULES
A. Section 1.1031(k)-1(g)(6)
X. HIGHLIGHTS OF A VALID DELAYED
EXCHANGE
XI. WHAT NOT TO DO IN A DELAYED
EXCHANGE
A. Christensen v.
Commissioner
B. Knight v.
Commissioner
C. Dobrich v.
Commissioner
XII. PARKING
ARRANGEMENTS
A. Revenue Procedure
2000-37
B. The Reverse
Exchange
1. Replacement Property
Parked
2. Relinquished Property
Parked
C. The Improvement
Exchange
XIII. SALE VS. AN EXCHANGE
XIV. CHOOSING A QUALIFIED
INTERMEDIARY
XV. APPENDIX
A. Seller
Financing
B.
IRS Form #8824 (Like-Kind Exchanges)
II. COST SEGREGATION AND 1031S
A. Is
Cost Segregation Appropriate for the Frequent Exchangor?
1. Similarities Between CS and
1031s
2.
Differences Between CS and
1031s
3. Holding
Period
3. Meeting the "Like-Kind Requirement"- State vs.
Federal
B.
Benefits in Combining the
Strategies
1. Eliminate Recapture Tax
2. Depreciation on replacement property (Temp Reg
1.168)
C.
Challenges in Combining the
Strategies
1. The Like-Kind
Hurdle
2. Allocation of Basis
Dilemna
3. 1031 and CSS - Case
Studies
D.
Pre-Exchange Planning
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