[Fredslist] Tax Question for marital transfers subject to 1031 exchange

[Stephen Ganns]

Hello Fellow Gothamites

I have a client who owns a joint piece of rental real estate. It was purchased as a section 1031 exchange property. She is selling it to her husband as part of the marital settlement incident to the divorce. My basic thinking is that there is no recognition of gain or loss on this transfer since it is incident to a divorce, just looking for an expert to either reinforce what I think or let me know if I am mistaken.


Thanks Steve

Stephen J Ganns, CPA
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White Plains, NY 10601
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