Discussion:Cost segmentation / Segregation / Section 1031 Exchange...
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Revision as of 20:57, 5 August 2008
Discussion Forum Index --> Basic Tax Questions --> Cost segmentation / Segregation / Section 1031 Exchange...
Discussion Forum Index --> Tax Questions --> Cost segmentation / Segregation / Section 1031 Exchange...
| 5 August 2008 | |
| A new client showed up today and told me they had executed a Section 1031 exchange. On the face it appeared as if the transaction was handled properly. However, as we were closing they mentioned that after the fact they had a cost segmentation study done on the replacement property (it was a commercial building and land). Am I way off base here or would this nullify the intent of the 1031 exchange? The exchange was building and land for building and land--and to me by doing cost segmentation you are saying that a portion of the "building" is 5-year and 7-year property. Anyone ever run into this before? I'm wondering if we should just ignore the cost segmentation study at this point. | |
