§ 29A.06 Other Transactions

• Jurisdiction: United States
• Publication year: 2022

§ 29A.06 Other Transactions

It is worth noting that leases with a remaining term of at least thirty years can be included in "like-kind" exchanges allowed under the Internal Revenue Code.¹ A brokerage commission can be earned on such a transaction.

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Notes:

^[1] IRC § 1031, 26 U.S.C. § 1031; Treas. Reg. § 1.1031(a)-1; 26 C.F.R. § 1.1031(a)-1. See Century Electric Co. v. Commissioner of Internal Revenue, 192 F.2d 155 (8th Cir. 1951), cert. denied 342 U.S. 954 (1952).