"Cashing Out" with Related Party Exchanges

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T02:14:30.000
dc.date.accessioned 2020-06-29T22:54:21Z
dc.date.available 2020-06-29T22:54:21Z
dc.date.embargo 2017-11-13
dc.date.issued 2005-12-16
dc.description.abstract <p>The hazards with related party exchanges under the like-kind exchange rules<strong><sup>1 </sup></strong>are well-known. If, within two years of a like-kind exchange of property with a related person, the related person disposes of the property or the taxpayer disposes of the property, the gain is recognized.<strong><sup>2 </sup></strong>The like-kind exchange rules recognize three exceptions to the two-year disposition rule – (1) dispositions involving the death of the taxpayer or the related person; (2) dispositions involving a compulsory or involuntary conversion; and (3) where the Internal Revenue Service is satisfied that avoidance of federal income tax is not a principal purpose of the transaction.<strong><sup>3 </sup></strong>If a transaction is a related party exchange, the Form 8824 must be filed for the two years following the year of the exchange.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol16/iss24/1/
dc.identifier.articleid 1806
dc.identifier.contextkey 11036842
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol16/iss24/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3238
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol16/iss24/1/AgLawDigest_v16n24_01.pdf|||Fri Jan 14 17:50:17 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title "Cashing Out" with Related Party Exchanges
dc.type article
dc.type.genre article
dspace.entity.type Publication
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relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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