Thunderbolt
Thu Aug 29 2024
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5 answers
1322
Are Bitcoin and ether a like-kind property under 1031?
Could you please clarify if Bitcoin and Ether are considered to be like-kind properties under Section 1031 of the Internal Revenue Code? This is an important question for investors looking to utilize tax-deferred exchanges for their cryptocurrency holdings. Understanding the tax implications of these digital assets can significantly impact financial planning and investment strategies. Would you be able to provide insight into the current legal and tax landscape surrounding this issue?
Enrico
Tue Aug 06 2024
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6 answers
1507
Which property types are eligible for a 1031 like-kind exchange?
Can you please clarify which types of properties are eligible for a 1031 like-kind exchange? Are residential properties, such as single-family homes or condos, considered eligible? What about commercial properties, like office buildings or retail spaces? Are there any specific restrictions or guidelines that determine the eligibility of a property for this type of exchange? I'm interested in understanding the full scope of what's considered a "like-kind" property under the 1031 exchange rules.
