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Easements Constitute An "Interest In Real Property"
November 25, 2020
Through a series of corporate transactions, the plaintiffs came into ownership of two natural gas pipelines within the State of New York, together with the easeme...

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Recent Reports

PNC Will Not Obtain A Basis Step-Up For Its Acquisition Of BBVA
November 25, 2020
PNC Financial Services Group, Inc., ("PNC"), and Banco Bilbao Vizcaya Argentaria, S.A., ("S"), recently announced that they have signed a definitive agreeme...
Distributions From Madoff Securities Were Not Income
November 25, 2020
In 2001, petitioners, ("Ps") received distributions from Madoff Securities, ("MS"). MS later filed bankruptcy after the discovery of the now-infamous Madoff...
Sec. 1031 Only Applies To Exchanges Of Certain "Real Property"
November 25, 2020
Sec. 1031(a)(1) of the Internal RevenueCode provides: No gain or loss shall be recognized on the exchange of real property held for productive use in a...
Unwanted Assets In A Sec. 338(h)(10) Transaction
November 24, 2020
S, a corporation incorporated in Delaware, owns 100 percent of the stock of T, a New York corporation. S is a taxpayer under Article 9-A of the Tax Law of New York.