superstring
Junior Member
What is the name of your state (only U.S. law)?California
I am contemplating granting an easement to the property owners next to a commercial property I own. I would like to know if this will be considered a taxable event. Further, I acquired the property in an IRS Section 1031 tax deferred exchange, so the basis is lower than what I paid for it. Anticipating that this will be a taxable event, how do I figure out the gain? Thank you.
I am contemplating granting an easement to the property owners next to a commercial property I own. I would like to know if this will be considered a taxable event. Further, I acquired the property in an IRS Section 1031 tax deferred exchange, so the basis is lower than what I paid for it. Anticipating that this will be a taxable event, how do I figure out the gain? Thank you.