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Real Estate Capital Gain Preservation Transactions After Pool v. Commissioner  

Author:  Matthew E. Rappaport.

Source: Volume 31, Number 04, Summer 2014 , pp.67-80(14)

Journal of Taxation of Investments

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Pool was a “bad facts” case that highlighted several aspects of a Bramblett transaction that can compromise the long-term capital gain treatment of the related-party conveyance. Poor planning led to an unfortunate outcome for the taxpayer, but practitioners can avoid a similar fate for their clients. The author examines the basics of a “good” Bramblett transaction, explains how the taxpayers in Pool went awry, and suggests three critical rules to follow in order to avoid similar problems in the future.

Keywords: Bramblett transaction; capital gain preservation transaction; Pool v. Commissioner; real estate development; property held for investment; ordinary property used in a trade or business

Affiliations:  1: L’Abbate, Balkan, Colavita & Contini, L.L.P..

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