WebSep 5, 2024 · A tax-free exchange is a transfer of property to a corporation in exchange for its shares of stock which, as a result, the transferor, alone or together with at most four others, gains control of the transferee. This is specifically stated under Section 40 (C) (2) of the 1997 Tax Code, which provides that no gain or loss shall be recognized in ... Webgenerally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free.
Susan Mcrae, CPA - Tax Preparer in Dillon, MT
WebFeb 14, 2024 · Tax treatment of exchange of properties pursuant to section 40 (C) (2) of the Tax Code. Covered transactions of the tax-free exchanges shall be exempt from capital gains tax, creditable withholding tax, income tax, donor’s tax, value-added tax, and documentary stamp tax (DST) on conveyances of real properties and shares of stocks. … WebFeb 28, 2024 · The 10 Best Things to Do in Dillon. 1. Bannack State Park. This is the actual site of Montana’s first-ever gold strike, although it is now one of the major ‘ghost towns’ of the area. Bannack is one of Montana’s most significant historical locations in the southwestern region, and it comprises a wide range of living history, which can be ... hmt337 vaisala
Clarifying tax-free exchanges involving transfers of property in ...
WebDec 14, 2024 · Max A. Hansen, President and CEO of American Equity Exchange, Inc. (AEEI), has been actively practic Dillon, MT 59725 WebExchange Services, Inc. is a Montana based company that specializes in delayed, simultaneous, reverse and build-to-suit 1031 tax-deferred exchanges. Catherine Witmer founded this company in 1996 to provide knowledgeable and experienced qualified intermediary services to investors and real estate professionals throughout the United … WebSimilar Tax Preparers in Dillon, Montana. Barbara Burgdorfer Address: 227 E Sebree St, Box 1291, Dillon Phone: NA . Candy Lin Johnson Address: 135 S Atlantic St, Dillon Phone: (406) 683-5033 . Carol A Egbert Address: 1145 Laknar Lane, Dillon Phone: (406) 683-5033 . Dennis Wendell Peck, CPA hmt370ex vaisala