Arthur Langer/Allan Cohn

1031 exchange

What is tax liability on sale of building without exchange?
	15%
	basis is what 160 paid for building in 1983?


What are the requirements for like kind exchange?
	Other geographical areas?
	Amounts?
	Types of buildings?
	160 MAOC the new buyer?
	160 MAOC the taxpayer?
	Gift of shares?
	Residence?
	consequences of imbalance of equity
	multiple replacement properties?
	Partial owner of new property?

Audit flags?

Veratex lease buyout?

VRTX lease buyout?

Capture VRTX losses?

Sale of shares?

Dissolutions of Corporation?

Tax basis- Capital expenditures.

Education funds

Buy Soperton building


1031
Must be set up before closing
Property or properties (up to 3 or up to 200% of value) id'd w/in 45 days of closing
Transaction completed within 180 days of closing or before filing whichever is earlier or get a filing extension to get the 180 days
Any property in US is considered like-kind
Need intermediary QI to handle transaction
Need same or greater equity and debt