Depreciation of property received in a like-kind exchange.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1997. The length of the article is 1034 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Recipients of property in a like-king exchange of depreciable property under IRC section 1031 must start depreciating anew under section 168. Under pre-1986 law, Congress gave the IRS authority to promulgate regulations providing like-kind exchange participants with an exception to the general rule that depreciation must start anew. In the section 168 revised in 1986, Congress made an exception for other transfers of depreciable property, but did not allow for promulgation of regulations that would allow a like-kind transferee to step in the shoes of the transferor regarding depreciation.

Citation Details
Title: Depreciation of property received in a like-kind exchange.
Author: Richard G. Blumenreich
Publication:The Tax Adviser (Magazine/Journal)
Date: June 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n6 Page: 345(3)

Distributed by Thomson Gale