John McCrocklin & Associates, Inc has been engaged with the Wimberley and Dripping Springs real estate market since 1970. Put your trust in the most experience you can obtain when buying or selling Wimberley Texas Real Estate.  
Real estate in San Marcos Texas — water properties
 
Dripping Springs TX real estate — Texas hill country ranch Home Dripping Springs Texas real estate, home for sale Properties McCrocklin has been selling Wimberley Texas real estate and real estate in San Marcos for 37 years Development Wimberley TX real estate has the finest water properties in the Texas Hill Country. Community McCrocklin can help you find Texas real estate if you are looking for a home for sale in Dripping Springs TX Resources Looking for an honest Dripping Springs Realtor call McCrocklin the most experienced Realtor in Texas About Us Texas Hill Country Real Estate has some of the most beautiful acreage for retirement homes, vacation homes and ranches Contact Us Real Estate in Texas hill country — water properties
 
IRS Overview on Like-Kind Exchanges

Download this Article  (PDF)



Click here to return to main Resources page
Real Estate in Texas hill country – water properties

Generally, if you exchange business or investment property solely for business or investment property of a like-kind, no gain or loss is recognized under Internal Revenue Code Section 1031. If, as part of the exchange, you also receive other (not like-kind) property or money, gain is recognized to the extent of the other property and money received, but a loss is not recognized.

Section 1031 does not apply to exchanges of inventory, stocks, bonds, notes, other securities or evidence of indebtedness, or certain other assets.

Like-Kind Property
Properties are of like-kind, if they are of the same nature or character, even if they differ in grade or quality. Personal properties of a like class are like-kind properties. However, livestock of different sexes are not like-kind properties. Also, personal property used predominantly in the United States and personal property used predominantly outside the United States are not like-kind properties.

Real properties generally are of like-kind, regardless of whether the properties are improved or unimproved. However, real property in the United States and real property outside the United States are not like-kind properties.

Additional Resources
Publication 544, Sales and Other Dispositions of Assets
Form 8824, Like-Kind Exchanges (PDF)

# # #

Texas Hill Country Ranch and home for sale Wimberley TX real estate  water properties Wimberley real estate, water property
 
Wimberley TX Real Estate, Dripping Springs TX Real Estate, San Marcos Real Estate
Wimberley Texas hill country real estate, Dripping Spring real estate in Texas hill country

© John McCrocklin & Associates, Inc. Real Estate. Web Development by Drewa Designs.