Proposed Changes to Section 1031: Exchanges of Collectibles (Works of Art)

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Services for Real Estate Pros with Exeter 1031 Exchange Services, LLC

Proposed Change to Section 1031: Exchanges of Collectibles (Works of Art)

The Farm Bill that is currently pending before the United States Congress contained a number of provisions that would affect Section 1031 of the Internal Revenue Code, including the exchange of art work or collectibles.  The provision would have essentially prohibited the 1031 exchange of collectibles such as art work. 

Pending Change Deleted From Farm Bill  

I am very happy to announce that this provision has been deleted from the Farm Bill and the 1031 exchange of collectibles is still permitted.

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1031
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section 1031
collectibles
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Anonymous
Angel Dust

This sucks ... I want the 1031 tax exchange to not include art and collectibles .. FUDGE !

Jul 21, 2008 12:29 PM #1
Rainmaker
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Bill Exeter
Exeter 1031 Exchange Services, LLC - San Diego, CA
1031 Tax-Deferred Exchange Expert

Hi Angel Dust,

Thank you for dropping by and visiting my blog.  You have an "interesting" point of view. 

Jul 21, 2008 01:05 PM #2
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Rainmaker
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Bill Exeter

1031 Tax-Deferred Exchange Expert
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