<div dir="ltr">Yeah. Ok. Thanks,<div><br></div><div>Jim</div><div><br clear="all"><div><div dir="ltr" class="gmail_signature" data-smartmail="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="gmail_quote"><div dir="ltr" class="gmail_attr">On Sat, Mar 28, 2020 at 2:55 PM Craig Gourley <<a href="mailto:craig@glgmail.com">craig@glgmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
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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.
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<div id="gmail-m_-167883138132877152divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.com</a>> on behalf of Jim Doran <<a href="mailto:jim@doranlegal.com" target="_blank">jim@doranlegal.com</a>><br>
<b>Sent:</b> Saturday, March 28, 2020 1:30:43 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com" target="_blank">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] PRESIDENTIALLY DECLARED DISASTER EXTENSIONS FOR 1031 EXCHNAGES</font>
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<div dir="ltr"><font size="4">Do you know what is being contemplated regarding 1031 Exchanges? </font>
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<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>
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<div><font size="4">Jim Doran</font></div>
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<div>James R. Doran<br>
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Attorney at Law<br>
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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>
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<a href="http://www.doranlegal.com" target="_blank">www.doranlegal.com</a><br>
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<div dir="ltr">On Sat, Mar 28, 2020 at 1:02 PM Kary Krismer <<a href="mailto:Krismer@comcast.net" target="_blank">Krismer@comcast.net</a>> wrote:<br>
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<blockquote 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>
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<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>
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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>
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