<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=us-ascii">
</head>
<body>
<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">
Jim. You were never allowed to exchange real property for personal property. You could exchange personal property for other personal property of the same SIC code. Airplane for a boat was not allowed but boat for boat was ok as long as the they were the same
asset catagory. ( eg barge for freighter not ok). I don't see us going back to allowing personal property exchanges. The whole kerfluffle started with a NY Times article ranting about the tax break that rental car companies were getting through 1031.
<br>
<br>
</div>
<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">
<span id="OutlookSignature">
<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">
Sent from my Verizon, Samsung Galaxy smartphone<br>
</div>
<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">
Get <a href="https://aka.ms/ghei36">Outlook for Android</a></div>
</span><br>
</div>
<hr style="display:inline-block;width:98%" tabindex="-1">
<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com> on behalf of Jim Doran <jim@doranlegal.com><br>
<b>Sent:</b> Saturday, March 28, 2020 1:30:43 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] PRESIDENTIALLY DECLARED DISASTER EXTENSIONS FOR 1031 EXCHNAGES</font>
<div> </div>
</div>
<div>
<div dir="ltr"><font size="4">Do you know what is being contemplated regarding 1031 Exchanges? </font>
<div><font size="4"><br>
</font></div>
<div><font size="4">I have two clients who are disappointed in the 2018 changes to the 1031 rules that no longer allow for investment into "like kind" replacement personal property (like an airplane or a boat) after the sale of real property that was investment property.
Is there any talk of going back to the good ol' days?</font></div>
<div><font size="4"><br>
</font></div>
<div><font size="4">Jim Doran</font></div>
<div><font size="4"><br clear="all">
</font>
<div>
<div dir="ltr" class="x_gmail_signature">
<div dir="ltr">
<div>
<div>
<div>
<div>
<div>James R. Doran<br>
</div>
Attorney at Law<br>
</div>
100 E. Pine Street - Suite 205<br>
</div>
Bellingham, WA 98225<br>
(360)393-9506<br>
</div>
<a href="mailto:jim@doranlegal.com" target="_blank">jim@doranlegal.com</a><br>
</div>
<a href="http://www.doranlegal.com" target="_blank">www.doranlegal.com</a><br>
</div>
</div>
</div>
<br>
</div>
</div>
<br>
<div class="x_gmail_quote">
<div dir="ltr" class="x_gmail_attr">On Sat, Mar 28, 2020 at 1:02 PM Kary Krismer <<a href="mailto:Krismer@comcast.net">Krismer@comcast.net</a>> wrote:<br>
</div>
<blockquote class="x_gmail_quote" style="margin:0px 0px 0px 0.8ex; border-left:1px solid rgb(204,204,204); padding-left:1ex">
It sounds like Rev. Proc. 2005-27 is not self executing, but requires <br>
the IRS to act and specify what's delayed.<br>
<br>
"This revenue procedure does not, by itself, provide any postponements <br>
under section 7508A. In order for taxpayers to be entitled to a <br>
postponement of any act listed in this revenue procedure, the IRS <br>
generally will publish a Notice or issue other guidance (including an <br>
IRS News Release) providing relief with respect to a Presidentially <br>
[sic?] declared disaster, or a terroristic [sic?]or military action."<br>
<br>
There's more on 1031's specifically mentioned. FWIW, Washington <br>
Realtors thinks nothing has been done yet.<br>
<br>
<a href="https://www.irs.gov/pub/irs-drop/rp-05-27.pdf" rel="noreferrer" target="_blank">https://www.irs.gov/pub/irs-drop/rp-05-27.pdf</a><br>
<br>
Kary L. Krismer<br>
206 723-2148<br>
<br>
On 3/28/2020 10:06 AM, Bryce Dille wrote:<br>
> Rev. Procedure 2005-27<br>
<br>
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***<br>
<br>
_______________________________________________<br>
WSBARP mailing list<br>
<a href="mailto:WSBARP@lists.wsbarppt.com" target="_blank">WSBARP@lists.wsbarppt.com</a><br>
<a href="http://mailman.fsr.com/mailman/listinfo/wsbarp" rel="noreferrer" target="_blank">http://mailman.fsr.com/mailman/listinfo/wsbarp</a><br>
</blockquote>
</div>
</div>
</body>
</html>