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CCH Federal Taxation Basic Principles Chapter 11 Property Transactions: Nonrecognition of Gains and ... - page 47 / 66

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CCH Federal Taxation Basic Principles

47 of  66

Reverse-Starker transactions: “Receiving Before Giving” NOT OK

Receiving like-kind property before giving like-kind property is known as a “reverse-Starker” transaction.  IRS TAKES THE POSITION THAT Code Sec. 1031 DOES NOT APPLY TO REVERSE-STARKER TRANSACTIONS! [Preamble to final regulations, 56 Fed. Reg. 19933 (5/1/91)]

Thus, in a two-party exchange where like-kind property is exchanged at different times, one party may qualify for Code Sec. 1031 while the other party may not!

Like-Kind Exchanges—Reverse Starker Transactions

Chapter 11, Exhibit 13c

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