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Income Tax Planning
Chapter 13: Nontaxable Exchanges/SECTION 1038: REACQUISITIONS OF REAL PROPERTY
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Chapter Study Session

Chapter 13: Nontaxable Exchanges

SECTION 1038: REACQUISITIONS OF REAL PROPERTY

01.Core Concepts

• Repossession of property subject to an installment note will not cause recognition of the remaining, deferred gain on the property. • Attractive for older-generation family members that take a security interest in a property sold to younger-generation family members under the installment method.