{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Tax in Action: Practical Strategies for Tax Pros","title":"The Aftermath: Tax Rules for Replacing Involuntarily Converted Property","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/80cf74c2\"></iframe>","width":"100%","height":180,"duration":3289,"description":"Jeremy concludes his three-part series on losses by examining IRC Section 1033, the tax code's provision for what happens after you replace property lost to casualty, theft, or government condemnation. When clients receive insurance payouts or condemnation proceeds, they face a critical decision: recognize the gain immediately or defer it by purchasing qualifying replacement property within specific timeframes. Jeremy breaks down the \"similar use\" requirements, the two to four year replacement periods depending on property type, and how basis carries over to help clients avoid unexpected tax bills when bad things force them to start over.\nConnect with Jeremy\nhttps://www.linkedin.com/in/jwellstax\nhttps://www.steadfastbookkeeping.com\nSubscribe on YouTube\nhttps://www.youtube.com/@TaxinAction\nEarn CPE for Listening to This Podcast\nhttps://www.earmark.app/\nThis podcast is a production of the Earmark Media","thumbnail_url":"https://img.transistorcdn.com/Ky2dMmDjksNXGZr_rW3qrZ7NO55NpaMQg-0Hi-XDcGo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mZTc2/ZmVkMTk4MDRkMjBl/MTQ3ZDQ4YWZjM2Rk/YWE1NC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}