Tax-Free Exchanges of Art and Other Collectibles
Bradley T. Borden
Brooklyn Law School
November 6, 2012
29 J. TAX’N INV. 3 (Spring 2012)
Brooklyn Law School, Legal Studies Paper No. 313
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.
Number of Pages in PDF File: 18
Keywords: Section 1031, like-kind exchanges, art exchanges, collectibles, qualified intermediaryAccepted Paper Series
Date posted: November 6, 2012
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