Revisiting the Definition of "Real Property" After Tax Reform: Structuring 1031 Like-Kind Exchanges
Recording of a 90-minute premium CLE/CPE webinar with Q&A
This CLE webinar will examine the impact of tax reform on like-kind exchanges under IRC Section 1031 with a particular focus on what now qualifies as “real property” and what constitutes unadjusted basis of replacement property for purposes of the new IRC Section 199A deduction. The panel will discuss the requirements for like-kind exchanges to qualify for tax-deferred treatment, and provide best practices for structuring transactions to avoid adverse tax consequences after closing.
- Tax reform and the new real property requirement under IRC Section 1031
- Defining real property under Section 1031 and in other contexts
- Framework of 1031 exchanges
- Reverse exchanges
- Forward exchanges
- Tenants in common and DSTs
- Section 1031(f) related-party rule
- Improvements exchanges
- Drop-and-swap strategies
The panel will review these and other high priority issues:
- Given the new Section 1031 limitations imposed under the Act, what kinds of property interests will qualify for Section 1031 treatment?
- What is the role and what are the restrictions of the exchange facilitator?
- How can counsel help clients avoid the 1031(f) restrictions in related-party exchanges?
- Is there a “holding period requirement” under Section 1031?
- What are the requirements for a reverse exchange under Section 1031?
- What are viable structures for improvements exchanges?
- What are current drop-and-swap practices?
Professor Bradley T. Borden
Professor of Law
Brooklyn Law School
Professor Borden’s research, scholarship, and teaching focus on taxation of real property transactions and... | Read More
Professor Borden’s research, scholarship, and teaching focus on taxation of real property transactions and flow-through entities (including tax partnerships, REITs, and REMICs). He teaches Federal Income Taxation, Partnership Taxation, Taxation of Real Estate Transactions, and Unincorporated Business Organizations, and he is affiliated with the Dennis J. Block Center for the Study of International Business Law. His work on flow-through and transactional tax theory appears in articles published in law reviews including Baylor Law Review, University of Cincinnati Law Review, Florida Law Review, Georgia Law Review, Houston Law Review, Iowa Law Review, Tax Lawyer, and Virginia Tax Review, among others. His articles also frequently appear in leading national tax journals including Journal of Taxation, Journal of Taxation of Investments, Real Estate Taxation, and Tax Notes.Close
Marie C. Flavin
Senior Vice President/Northeast Regional Manager
Investment Property Exchange Services
Ms. Flavin is a member of the New York and Connecticut Bars, and has been practicing real estate law since 1992. She... | Read More
Ms. Flavin is a member of the New York and Connecticut Bars, and has been practicing real estate law since 1992. She has been specializing in 1031 exchanges with IPX since 1999. In her position as Northeast Regional Manager of Investment Property Exchange Services, Ms. Flavin frequently lectures and writes articles on IRC § 1031 tax deferred exchanges. She teaches Continuing Legal Education and Continuing Professional Education to Attorneys and CPA’s. Ms. Flavin is an adjunct professor at the University of New Haven where she teaches Business Law. She received her B.A. from St. John’s University and her J.D. from St. John’s School of Law in 1992.Close
Peter J. Mannarino
Mr. Mannarino’s practice consists of representing clients in connection with complex real estate transactions... | Read More
Mr. Mannarino’s practice consists of representing clients in connection with complex real estate transactions including acquisitions and dispositions, tax-deferred exchanges, commercial leasing, development, financing, and joint ventures for retail, office, industrial, hospitality, multi-family and mixed use properties. He also has experience in numerous traditional and non-traditional structured finance and sale-leaseback transactions, including document drafting, negotiating, due diligence and coordination of closing activities in every state in the country in transactions ranging from $1,000,000 to $400,000,000.Close