Please read the following article and answer the questions below . https://www.thetaxadviser.com/newsletters/2020/jul/like-kind-exchanges-irs-sec-1031.html
After reading the Bryant article, please answer the following questions:
Explain the differences between previous section 1031 exchanges and the current updated section 1031 exchanges, is it better or worse for the taxpayer?
Explain the differences between personal property and real property.
Explain a three party exchange.
Explain and define a “Boot” and the ramifications of giving a “Boot” in these types of exchanges.
