The IRS recently issued Rev Proc 2005-14, 2005-7 IRB. This Revenue Procedure clarifies that the exclusion of gain from the sale of a principal residence under IRC § 121 may be combined with a like-kind exchange under IRC § 1031. This Revenue Procedure also provides six examples of how these two. . . full story here.
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- United States: Guidance Issued Explaining Simultaneous Like-Kind Exchange and Home Sale Gain Exclusion
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April 08, 2005
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