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Art for Art

Volume 2 No 5    /    Read Article

By Sheryl Shah and Nina Krauthamer

Taxpayers are usually taxed on net gains from the sale of property. However, tax may be deferred if the transaction is cast as an exchange and certain conditions are met. Art investors are now employing these methods to defer tax on gains from the sale of appreciated art by exchanging one piece of artwork for another. In this article, Nina Krauthamer and Sheryl Shah address the application of the like-kind exchange provisions under Code §1031, traditionally used for investment and business real estate, to the exchange of works of art.   See more →