Commercial Real Estate
1031 Exchanges
Commercial Real Estate
IRS REGULATION FORMS  

IRS REGULATION FORMS

Investors should consult with their accounting and/or legal advisors regarding the details of their specific situation prior to making final investment decisions.

INTERNAL REVENUE CODE ("IRC" OR "IRS TAX CODE")
DEPARTMENT OF THE TREASURY REGULATIONS (IRS REGULATIONS)
IRS REVENUE RULINGS (REV. RUL.)
IRS REVENUE PROCEDURES (REV. PROC.)
IRS PRIVATE LETTER RULINGS (IRS PLRS)
TECHNICAL ADVICE MEMORANDUMS (TAM)
TAX COURT MEMORANDUMS (TC MEMO)
IRS FIELD SERVICE ADVISORY (FSA)
NON-DOCKET SERVICE ADVICE REVIEW (NSAR)
GENERAL COUNSEL MEMORANDUMS
CHIEF COUNSEL ADVISORY
UNITED STATES TAX REPORTER
IRS NEWS RELEASES, NOTICES, TREASURY DECISIONS

INTERNAL REVENUE CODE ("IRC" OR "IRS TAX CODE")
Concise Overview Of Sections 1031, 1033, 1034, 721 And 121 Of The IRC 
Brief History Of Section 1031 Of The Internal Revenue Code 
Section 1031 Of The Internal Revenue Code (1031 Exchange )
Section 1032 Of The Internal Revenue Code (1032 Exchange )
Section 1033 Of The Internal Revenue Code (1033 Exchange )
Section 1034 Of The Internal Revenue Code  (1034 Exchange )
Section 1035 Of The Internal Revenue Code (1035 Exchange )
Section 1245 Of The Internal Revenue Code (1245 Property)
Section 1250 Of The Internal Revenue Code (1250 Property )
Section 721 Of The Internal Revenue Code (upREIT or Section 1031/721 exchange)
Section 707 Of The Internal Revenue Code (Partnership and Determination of Tax Liability)
Section 453 Of The Internal Revenue Code (Installment Sale Treatment)
Section 267 Of The Internal Revenue Code (Related party transactions)
Section 121 Of The Internal Revenue Code (121 Exclusions, including H.R. 4520)

DEPARTMENT OF THE TREASURY REGULATIONS (IRS REGULATIONS)
Section 1.1031 Of The Department Of The Treasury Regulations (Exchange of Investment Property)
Section 1.1032 Of The Department Of The Treasury Regulations 
Section 1.1033 Of The Department Of The Treasury Regulations (Involuntary Conversion)
Section 1.1034 Of The Department Of The Treasury Regulations (Repealed)
Section 1.1035 Of The Department Of The Treasury Regulations (Exchange of Annuity Contracts)
Section 1.935 Of The Department Of The Treasury Regulations (Exchange into Guam Property)
Section 1.721 Of The Department Of The Treasury Regulations (Exchange into an upREIT)
Section 1.707 Of The Department Of The Treasury Regulations (Partnership Taxation)
Section 1.453 Of The Department Of The Treasury Regulations (Installment Sale Regulations)
Section 1.301 Of The Department Of The Treasury Regulations (Business/Disregarded Entities)
Section 1.121 Of The Department Of The Treasury Regulations (Exclusion on Primary Residence)

IRS REVENUE RULINGS (REV. RUL.)
IRS Revenue Ruling 2004-86 (Classification of Delaware Statutory Trusts (DSTs) for 1031 exchanges)
IRS Revenue Ruling 2004-77 (Disregarded entities)
IRS Revenue Ruling 2003-76 (1035 exchange of annuity contracts)
IRS Revenue Ruling 2003-56 (1031 exchange with partnership straddling two income tax years)
IRS Revenue Ruling 2002-83 (Related party 1031 exchanges)
IRS Revenue Ruling 2002-75 (1035 exchange of annuity contracts)
IRS Revenue Ruling 1992-105 (Interest in Illinois Land Trusts constitutes interest in real property)
IRS Revenue Ruling 1990-34 (Direct deeding)
IRS Revenue Ruling 1985-135 (Exchange of two TV stations for assets in another TV station)
IRS Revenue Ruling 1984-121 (Two Party Swap; option payment made with real estate)
IRS Revenue Ruling 1983-70 (1033 exchange from leasehold improvements to interest in real estate)
IRS Revenue Ruling 1983-50 (Section 121 Exclusions; individuals attain age 55)
IRS Revenue Ruling 1983-49 (1033 exchange of condemnation award for not similar use property)
IRS Revenue Ruling 1982-166 (Exchange of gold bullion for silver bullion not like kind under 1031)
IRS Revenue Ruling 1982-96 (Like Kind Exchange of Gold Bullion for Gold Coins)
IRS Revenue Ruling 1980-244 (Exchange of stock qualifies for nonrecognition under Section 1036)
IRS Revenue Ruling 1979-402 (Involuntary conversion; replacement property; land and building; basis)
IRS Revenue Ruling 1979-235 (Property received takes completion date of property constructed/sold)
IRS Revenue Ruling 1979-143 (1031 exchange of numismatic coins for bullion-type coins not like kind)
IRS Revenue Ruling 1979-44 (Exchange of jointly owned farm properties; one subject to mortgage)
IRS Revenue Ruling 1978-163 (1031 exchange/bargain sale to a state qualifies for non-recognition)
IRS Revenue Ruling 1978-135 (1031 exchange of partnership interests is not tax-deferred)
IRS Revenue Ruling 1978-4 (Like kind exchange of remainder interests in farm land)
IRS Revenue Ruling 1972-117 (Oil and gas interest is like kind property in 1033 exchange)
IRS Revenue Ruling 1972-456 (1031 exchange closing costs; brokerage commissions)
IRS Revenue Ruling 1967-234 (Section 121 exclusions; individuals attain age 65)
IRS Revenue Ruling 1967-235 (Section 121 exclusions; clarified; brother and sister each qualify)
IRS Revenue Ruling 1959-229 (Exchange of unencumbered farm lands, buildings, and unharvested crops)
IRS Revenue Ruling 1957-365 (Exchange of assets of one business for assets of another business)

IRS REVENUE PROCEDURES (REV. PROC.)
Revenue Procedure No. 2008-16 (Safe harbor for 1031 exchange of vacation property or second home)
Revenue Procedure No. 2005-14 (Sections 1031 and 121 Combined)
Revenue Procedure No. 2004-51 (Property previously owned by taxpayer before QEAA parking)
Revenue Procedure No. 2003-39 (LKE Program 1031 tax-deferred exchanges)
Revenue Procedure No. 2002-69 (H&W; community property; disregarded entities)
Revenue Procedure No. 2002-22 (Tenant-in-common or fractional ownership interests)
Revenue Procedure No. 2000-37 (Reverse 1031 exchanges structured with parking arrangements)
Revenue Procedure No. 1992-91 (1031 Exchange of emission allowances for like-kind property)
Revenue Procedure No. 1991-61 (Amends Revenue Procedure 90-3)

IRS PRIVATE LETTER RULINGS (IRS PLRS)
Private Letter Ruling No. 2006-16005 (Related Party 1031 exchange)
Private Letter Ruling No. 2005-50005 (SUVs like-kind to passenger automobiles)
Private Letter Ruling No. 2005-32008 (FCC radio spectrum frequency like kind)
Private Letter Ruling No. 2005-21002 (Like-kind property received, then testamentary trust terminated)
Private Letter Ruling No. 2004-40002 (Related entity/party 1031 exchange)
Private Letter Ruling No. 2004-28020 (LKE Program 1031 Exchange with Master Exchange Agreement))
Private Letter Ruling No. 2004-04044 (Water rights are like-kind to fee interest in farm land)
Private Letter Ruling No. 2003-38001 (Qualified Intermediary not disqualified party)
Private Letter Ruling No. 2003-29021 (Building on Property Already Owned by the Taxpayer)
Private Letter Ruling No. 2003-27039 (LKE 1031 Exchange Program with Master Exchange Agreement)
Private Letter Ruling No. 2002-51008 (Building on Property Already Owned by the Taxpayer)
Private Letter Ruling No. 2002-42009 (Tax-deferred exchange of leased vehicles)
Private Letter Ruling No. 2002-41016 (1031 exchange of like-kind leased equipment)
Private Letter Ruling No. 2002-41013 (Like-kind exchange of vehicles by lessor)
Private Letter Ruling No. 2002-40049 (Tax-deferred exchanges of automobiles, trucks, SUVs)
Private Letter Ruling No. 2002-36026 (Like-kind exchange LKE program equipment exchanges)
Private Letter Ruling No. 2002-11016 (180 day exchange period can not be extended due to receivership)
Private Letter Ruling No. 2002-09010 (Transfer of plants and associated nuclear decommissioning funds)
Private Letter Ruling No. 2002-03033 (Exchange of Perpetual Conservation Easement for fee interest)
Private Letter Ruling No. 2001-48042 (Agency language eliminates duplicate documentary transfer tax)
Private Letter Ruling No. 2001-37032 (Shares in NY Cooperative are Like Kind Property)
Private Letter Ruling No. 2001-11025 (Non-safe harbor reverse 1031 exchange)
Private Letter Ruling No. 2000-27028 (Premature disbursement by qualified intermediary not allowed)
Private Letter Ruling No. 2000-19019 (Partnerships exchange into TIC interests like kind property)
Private Letter Ruling No. 2000-19018 (Partnerships exchange into TIC interests like kind property)
Private Letter Ruling No. 2000-19017 (Partnerships exchange into TIC interests like kind property)
Private Letter Ruling No. 2000-19016 (Partnerships exchange into TIC interests like kind property)
Private Letter Ruling No. 1993-09023 (Combined 121 exclusion and 1034 exchange)
Private Letter Ruling No. 1989-42008 (121 exclusion granted to H&W and Mother for 2 on 1 Property)
Private Letter Ruling No. 1981-03117 (1031 exchange of vacation property held for investment)

TECHNICAL ADVICE MEMORANDUMS (TAM)
Technical Advice Memorandum No. 2006-02034 (Exchange of Intangible Property; foreign for domestic))
Technical Advice Memorandum No. 2004-24001 (Assembled railroad track like-kind to non assembled)
Technical Advice Memorandum No. 2003-46007 (Sale/Leaseback doesn't qualify for 1031 exchange)
Technical Advice Memorandum No. 2003-46004 (1031 exchange of television broadcast station licenses)
Technical Advice Memorandum No. 2001-30001 (Series of transactions not 1031 exchange)
Technical Advice Memorandum No. 2000-39005 (Failed Reverse 1031 Exchange)
Technical Advice Memorandum No. 2000-35005 (Exchange of Radio and TV licenses)

TAX COURT MEMORANDUMS (TC MEMO)
Tax Court Memorandum 2008-269 (Capital gain is tax deferred using Private Annuity Trust or PAT)
Tax Court Memorandum 2007-134 (Exchange of vacation homes fails to qualify as 1031 Exchange)

IRS FIELD SERVICE ADVISORY (FSA)
Field Service Advisory No. 2002-1315648 (Exchange of franchise agreement under Georgia law)
Field Service Advisory No. 2002-44010 (Aircraft exchange; step transaction; substance over form)
Field Service Advisory No. 2002-05023 (Lease-In/Lease-Out structure fails like-kind exchange treatment)
Field Service Advisory No. 2000-48021 (Failed exchange; constructive receipt; non-qualified intermediary)

NON-DOCKET SERVICE ADVICE REVIEW (NSAR)
Non-Docketed Service Advice Review 2004-4101F (Crude Oil Gathering System Like-Kind)

GENERAL COUNSEL MEMORANDUMS
General Counsel Memorandum 39606 (Sale or exchange of airplane takeoff and landing rights)
General Counsel Memorandum 39572 (Acquisition of mineral leases and oil & gas interests like-kind)
General Counsel Memorandum 39536 (1031 exchange of land for stock in mutual interest company)
General Counsel Memorandum 39182 (1033 exchange of railroad track for involuntary improvements)
General Counsel Memorandum 38975 
General Counsel Memorandum 38968 
General Counsel Memorandum 35266 (Insurance proceeds income; not return of capital in 1033)

CHIEF COUNSEL ADVISORY
Office Of Chief Counsel INFO No. 2008-36024 (Combination of a forward and reverse 1031 exchange under Section 1031)
Office Of Chief Counsel INFO No. 2008-0021 (Taxation of failed 1031 exchange due to failed Qualified Intermediary or failed QI)
Chief Counsel Advisory 2007-34021 (T/P residence qualifies for 121 exclusion after natural disaster)
Chief Counsel Advisory 2006-50014 (Partnership distribution in redemption of Taxpayer's interest)

UNITED STATES TAX REPORTER
United States Tax Reporter P 1684.045 (Depreciation of MACRS property acquired or relinquished in a Like-Kind exchange or involuntary conversion)

IRS NEWS RELEASES, NOTICES, TREASURY DECISIONS
IRS Notice No. 2006-82 (Extension of Replacement Period for Livestock Sold on Account of Drought)
IRS Notice No. 2006-34 (Taxation of Cross Licensing Agreements)
IRS Information Letter No. 2007-0009 (Reverse 1031 exchange does not qualify for postponement)
IRS Information Letter No. 2004-0230 (Qualification to serve as Qualified Intermediary)
IRS Information Letter No. 2002-0292 (Hotel industry's need for tax relief after September 11, 2001)
IRS News Release IR-2006-161 (Proposed Regulations Significantly Restrict Private Annuity Trusts)
Rules And Regulations: Department Of The Treasury - TD 8535 (1031 Like Kind Exchanges of Real Property )