> TELEPHONE US 212.355.5710
Menu

Tax Break Used by Investors in Flipping Art Faces Scrutiny (Like-kind exchanges)

April 27, 2015

Like-kind exchanges (or 1031) has been used in the real estate market for decades and more recently in the art market.  Basically, these exchanges allow the ‘investor’ to delay paying the 28% capital gains tax on art, stamps, collectibles, etc. by taking the proceeds of a sale from one work and buying another.

The full article makes an interesting read … click HERE.

 

irs

Internal Revenue Service

  • MORE ARTICLES