hcliston
Level 4
07-22-2022
03:31 PM
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Hi DASCPA,
I'm puzzled that you call it a clawback.
Isn't this the way 1031s always work?
My understanding is that, in all 1031s, you defer the gain at the time you make an exchange, but it's only deferred. Whenever the replacement property is sold, the unrecognized gain finally gets recognized. Is that not correct?
Thank you!
Heather