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Re: IRS Audit of 1031 exchange

Did they elaborate on what they meant by business? How and what are they defining as a business?

Posted to Real Estate Tax Issues (Forum) by Bill Exeter on 08-08-2008
1031 Exchange Audit

My parents sold a retirement home. They did a 1031 in a retirement homes being built. The IRS are saying that it isn't a 1031. We really trusted the company and the lawyers that they used. Are they not responsible for falsely representing the 1031?

Posted to Real Estate Tax Issues (Forum) by bcmiller5 on 08-07-2008

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