The so-called 1031 like-kind exchange rule was created a century ago to aid family farmers. It has evolved into a beloved tool of property moguls, Fortune 500 companies and real estate trusts that can use it to create a daisy-chain of tax avoidance.
A deep dive into the recently released tax court opinion on the King of Pop’s assets.
The opinion may serve as a helpful guide for valuing the right of publicity and copyrights for tax purposes.