Section 1031, Like Kind Exchanges Teresa calls you to discuss her latest tax planning ideas At a coc

Section 1031, Like Kind Exchanges
Teresa calls you to discuss her latest tax planning ideas

At a cocktail party last night she was mesmerized by a discussion of like kind

exchanges She now feels that like kind exchanges will be the solution to all

of her tax problems She just “knows” she should do the following

like kind exchanges this year:

· Exchange her highly appreciated stock in Apple Computer
(FMV $500,000 basis $10,000) for shares of General Motors

· Exchange vacant land in Montana for a shopping mall in
Illinois

· Exchange 2005 model year business truck (FMV $15,000 basis
$50,000) for a new 2007 model year business truck

· Exchange excess inventory for new computers for the
business

· Exchange vacation home in Hawaii for a vacation home in
New York

· Exchange residential rental property in Florida for
residential rental property in Tahiti

· Exchange apartment building in Texas for a residential
rental in Nantucket

Discuss whether each proposed exchange qualifies as a like
kind exchange Are there any exchanges that qualify that you would recommend
that Teresa not do? Why? Explain the rules that must be followed to properly
execute a like kind exchange Explain to Teresa how to properly structure an
exchange if the property she wants to dispose of is not desired by the owner of
the property that she wants to acquire

We are the Best!

course-preview

275 words per page

You essay will be 275 words per page. Tell your writer how many words you need, or the pages.


12 pt Times New Roman

Unless otherwise stated, we use 12pt Arial/Times New Roman as the font for your paper.


Double line spacing

Your essay will have double spaced text. View our sample essays.


Any citation style

APA, MLA, Chicago/Turabian, Harvard, our writers are experts at formatting.


We Accept

Secure Payment
Image 3