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How did 1031 Exchange do in the New Tax Law?

By Drew McCabe | January 11, 2018
The ERG Incentive

First, the bad news, personal property 1031 Exchanges are, now, not allowed.  If you started your personal property 1031 Exchange prior to January 1, 2018, you can still finish it.  But, moving forward, personal property can no longer receive 1031 Exchange treatment.  This mostly affects fleet exchanges (i.e. semi-trucks and rental cars), antique dealers, airplane…

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Keep up to date with IRS tax relief provided in disaster situations based on FEMA's declarations at the link below. 

Tax relief in disaster situations | Internal Revenue Service (irs.gov)

If you believe you may be in an area that qualifies for IRS Disaster relief, you can confirm via the link, and by confirming with your tax preparer regarding how it could affect your 1031 deadlines.

If you confirm with your tax preparer that you are eligible for an IRS Disaster extension, please reach out to ERG so we can make the necessary updates.

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