Research problem Paper Example | Topics and Well Written Essays - 250 words

line - Research Paper ExampleThe property in question here does non have any(prenominal) elements related to trade and profit, therefore the owners of the property did not receive any recognized gains.The tax primer for the property under password would be such that the owners would be accorded tax-free treatment. Section 1031a of the internal revenue code identifies the basis applicable to a property being exchanged (IRS). The property under discussion here could be treated as tax free because of attainment within the specified term of time. The tax basis imposed on properties by the United States tax laws would be excluded in this property. The ordination offers a 45 day period of identification of an exchange property, and 180 day period for acquisition of the property. Since the property under discussion fully complied with these stipulations, the property would receive tax-free treatment. The owners of the new property would not be required to remit any taxes on the new