Section 1031 Proposed Regulations Including Shortcomings
Tax Notes
July 13, 2020
On June 11, 2020, the IRS issued proposed regulations that define the term “real property” for purposes of section 1031 of the Internal Revenue Code. This article, co-authored by Kelley Drye Tax partners Jack J. Miles and Andrew H. Lee, explains how the proposed regulations defining real property under section 1031 provides welcome guidance for like-kind exchanges, while also highlighting several flaws.

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