"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
relation.isJournalIssueOfPublication 83a93741-dbde-4d86-af26-0e38d9d88964
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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