Treasury Regulations (26 C.F.R.)
26 CFR § 1.1031(b)-2
Safe harbor for qualified intermediaries.
# (a)
In the case of simultaneous transfers of like-kind properties involving a qualified intermediary (as defined in § 1.1031(k)-1(g)(4)(iii)), the qualified intermediary is not considered the agent of the taxpayer for purposes of section 1031(a). In such a case, the transfer and receipt of property by the taxpayer is treated as an exchange.
# (b)
In the case of simultaneous exchanges of like-kind properties involving a qualified intermediary (as defined in § 1.1031(k)-1(g)(4)(iii)), the receipt by the taxpayer of an evidence of indebtedness of the transferee of the qualified intermediary is treated as the receipt of an evidence of indebtedness of the person acquiring property from the taxpayer for purposes of section 453 and § 15a.453-1(b)(3)(i) of this chapter.
# (c)
Paragraph (a) of this section applies to transfers of property made by taxpayers on or after June 10, 1991.
# (d)
Paragraph (b) of this section applies to transfers of property made by taxpayers on or after April 20, 1994. A taxpayer may choose to apply paragraph (b) of this section to transfers of property made on or after June 10, 1991.
[T.D. 8346, 56 FR 19937, May 1, 1991, as amended by T.D. 8535, 59 FR 18749, Apr. 20, 1994]
Source: view the official text
In this part (40 sections)
- 1.1015-2 · Transfer of property in trust after December 31, 1920.
- 1.1015-3 · Gift or transfer in trust before January 1, 1921.
- 1.1015-4 · Transfers in part a gift and in part a sale.
- 1.1015-5 · Increased basis for gift tax paid.
- 1.1016-1 · Adjustments to basis; scope of section.
- 1.1016-2 · Items properly chargeable to capital account.
- 1.1016-3 · Exhaustion, wear and tear, obsolescence, amortization, and…
- 1.1016-4 · Exhaustion, wear and tear, obsolescence, amortization, and…
- 1.1016-5 · Miscellaneous adjustments to basis.
- 1.1016-6 · Other applicable rules.
- 1.1016-10 · Substituted basis.
- 1.1017-1 · Basis reductions following a discharge of indebtedness.
- 1.1019-1 · Property on which lessee has made improvements.
- 1.1020-1 · Election as to amounts allowed in respect of depreciation,…
- 1.1021-1 · Sale of annuities.
- 1.1031-0 · Table of contents.
- 1.1031(a)-1 · Property held for productive use in trade or business or…
- 1.1031(a)-2 · Additional rules for exchanges of personal property.
- 1.1031(a)-3 · Definition of real property.
- 1.1031(b)-1 · Receipt of other property or money in tax-free exchange.
- 1.1031(b)-2 · Safe harbor for qualified intermediaries.
- 1.1031(c)-1 · Nonrecognition of loss.
- 1.1031(d)-1 · Property acquired upon a tax-free exchange.
- 1.1031(d)-1T · Coordination of section 1060 with section 1031…
- 1.1031(d)-2 · Treatment of assumption of liabilities.
- 1.1031(e)-1 · Exchange of livestock of different sexes.
- 1.1031(j)-1 · Exchanges of multiple properties.
- 1.1031(k)-1 · Treatment of deferred exchanges.
- 1.1032-1 · Disposition by a corporation of its own capital stock.
- 1.1032-2 · Disposition by a corporation of stock of a controlling…
- 1.1032-3 · Disposition of stock or stock options in certain…
- 1.1033(a)-1 · Involuntary conversions; nonrecognition of gain.
- 1.1033(a)-2 · Involuntary conversion into similar property, into money…
- 1.1033(a)-3 · Involuntary conversion of principal residence.
- 1.1033(b)-1 · Basis of property acquired as a result of an involuntary…
- 1.1033(c)-1 · Disposition of excess property within irrigation project…
- 1.1033(d)-1 · Destruction or disposition of livestock because of…
- 1.1033(e)-1 · Sale or exchange of livestock solely on account of…
- 1.1033(g)-1 · Condemnation of real property held for productive use in…
- 1.1033(h)-1 · Effective date.