All Posts

In New York State, the "drop and swap"  refers to a valid real estate tax strategy used in §1031 like-kind exchanges . The New York Division of Tax Appeals (DTA) has officially approved the use of this strategy, even when the property distribution and the subsequent sale occur on the same day.  What is a "Drop and Swap"? A "drop and swap" is a planning technique used when a property is owned by a partnership or an LLC and not all members want to participate in a like-kind exc