The woman who doesn't know the United States market faced a large capital gains tax bill unless she bought another property within 180 days (a transaction known as a "like-kind" exchange).
Mr. Baden said that to defer payment of capital-gains tax from the sale of the Florida project, the development entity did what is called a like-kind exchange with the Bazzini Building, which it acquired from the Hoffmann children and Mr. Chodosh.
Two months after the suit was filed, the companies controlled by the Cheng group made what is known as a like-kind exchange in order to defer capital gains taxes from their sale to Extell, a common practice permitted under Section 1031 of the federal tax code.
The Corcoran Group, a major real estate brokerage firm in Manhattan, recently held a like-kind exchange seminar to educate some of its clients about the service.
Also called a "like-kind" exchange, it allows a multiple-property owner to reinvest the gains made on the sale of one home into improvements on another.
Also called a "like-kind" exchange, it allows a multiple-property owner to reinvest the gains made on the sale of one investment home into improvements on another.
A 1031 exchange, also known as a like-kind exchange, allows investors to sell off an investment property without paying capital gains taxes if they purchase another property (or properties) of equal value within 180 days.
You might get kicked up the chain if you have a Schedule K-1 that reports partnership income, if you have S corp income or if you did a 1031 like-kind exchange.
Hunter added that there's no revenue component to these partnerships, though he did say some involved an "in-kind" exchange, where a publisher promotes the Spun app in exchange for getting featured more prominently within the app itself.
So the in-kind exchange is pretty fair.
