Discussion:Related party in 1031 exchange

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Discussion Forum Index --> Tax Questions --> Related party in 1031 exchange

Dfoley (talk|edits) said:

27 November 2006
Client has a farm he wants to sell to his sister and brother in law. The sister and broter in law are selling their farm and would like to purchase the client's farm in a like kind exchange. Would the sister and brother in law qualify for a tax free like kind exchange? Are there any other related party issues to be aware of in the 1031 exchange?

Solomon (talk|edits) said:

27 November 2006
Sec. 1031(f). As you describe it, sounds like two sales. Like-Kind Exchange.

Lbaccounting (talk|edits) said:

28 November 2006
A great help with Like Kind Exchanges. One of our clients used them and was very happy.

http://www.ipx1031.com/

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