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- Title
Tax-Free Exchanges of Art and Other Collectibles.
- Authors
Borden, Bradley T.
- Abstract
In a thriving art market, investors making changes to their collections understandably might want to save tax dollars by structuring like-kind exchanges. But the lack of specific guidance regarding the definition of like-kind art and other collectibles--and the unusual nature of collectibles transactions--clouds the applicability of Section 1031 to such arrangements. This article suggests that tax advisors can create structures that will help such transactions come within the qualified intermediary safe harbor while keeping in mind that many positions an owner might take with respect to like-kind art or other collectibles are subject to challenge.
- Subjects
TAX free exchanges; PROPERTY tax; NONDISCRIMINATION tests (Retirement plans); TAX planning; DISGUISED sales
- Publication
Journal of Taxation of Investments, 2012, Vol 29, Issue 3, p3
- ISSN
0747-9115
- Publication type
Article