[WSBARP] DOR and reverse 1031 exchanges.

[Shannon Sperry]

You are right that they don’t  have to follow the law and they are just looking to see how much money they can collect. I had the experience of a hearing examiner telling me I was right in my interpretation of the reg but her superior told her she couldn’t rule in my favor but if my client paid a nominal amount they would accept as full settlement. I learned a valuable lesson. They audit and litigate not to enforce the rules but to collect money any way they can.  Makes it hard for lawyers trying to advise clients.
Sent from my iPhone

On Mar 7, 2025, at 3:10 PM, Craig Gourley <craig at glgmail.com> wrote:


[EXTERNAL]
________________________________
Nope, not good at all.  I will be teaching 1031s at the mid-year in May and will certainly be adding a section on this little development.   I was literally the one that went to Olympia back in about ’87 and met with the director of the DOR explained how things worked and we created the WAC that exempted 1031s from double excise.  Now this, what a crock.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Friday, March 7, 2025 3:04 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] DOR and reverse 1031 exchanges.

Just saw a lunchtime CLE presentation last week by Mary B. Foster at 1031 Exchange Inc., that talked about this double REET issue for reverse 1031s. It doesn’t sound good for the taxpayer.

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Craig Gourley
Sent: Friday, March 7, 2025 2:59 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: [WSBARP] DOR and reverse 1031 exchanges.

Listmates.  DOR is once again out of their flipping minds.   We just argued in an audit of a reverse 1031 exchange and as expected lost because DOR is not required to use common sense or follow the law.  They are imposing a double excise tax on  a reverse exchange. Given my mood at the moment, I will stop here before I get into trouble.  Anyone interested in this latest garbage from the state please contact me off the listserve and I will provide you information.   This is a major problem because there are literally hundreds of millions of dollars in these  transactions that are now up for grabs by the State.



GOURLEY LAW GROUP
THE EXCHANGE CONNECTION
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Snohomish, WA 98291
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