[WSBARP] excise tax exemption

[Bryce Dille]

Based on WAC 458-61A-212(1) that if the transfer does not involve the recognition of gain or loss for income tax purposes it is not subject to excise tax.. I realize this WAC refers to entity formation, liquidation, dissolution or reorganization it is not that much of a stretch to include your proposed transaction which I have done before and never questioned.

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

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Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments Real Property Foreclosures and Forfeitures.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Robert R. Cole
Sent: Wednesday, July 7, 2021 1:08 PM
To: WSBA Probate & Trust Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] excise tax exemption


I am preparing a deed from a corporation's  401(k) trust to rollover real estate to an IRA.  No change of beneficial ownership, but the 401(k) indicated ownership only internally (this property was long ago allocated to the beneficiary/employee, but the deed by which the 401(k) held title did not ever mention the beneficiary, although she paid the property taxes).  I see no mention of retirement plan rollovers in the WAC exemptions, but there should be one.  Thanks for letting me know what has worked.
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Very Truly Yours,
Robert R. Cole
Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW
Stanwood, WA 98292
(360) 629-2900 (Telephone)
(360) 629-0220 (Fax)

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