Guest Contributor: Are 721 OP Exchange Transactions the New Section 1031 Exchange?

August 2, 2022

Section 721 of the Internal Revenue Code permits the owners of real estate to contribute their property to a partnership in exchange for interests in the partnership.  No tax is due on the contribution or receipt.  Generally, the tax that would be due on sale of the contributed real estate is deferred until later, when the property is sold in a taxable transaction.

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