Key Takeaways
- Five risk categories require five distinct mitigation strategies—tax risk typically has the highest impact.
- Tax form consistency across 4797, Schedule D, 8824, 6252, and 8960 prevents audit triggers.
- Failed exchange contingency: tax reserve + DST backup + reverse exchange option.
- Portfolio resilience requires concentration limits, multiple exit paths, and multi-year disposition sequencing.
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Test Your Knowledge
1.What is the federal penalty per violation for failing to provide a lead-based paint disclosure on a pre-1978 property?
2.What is the most common cause of 1031 exchange failure?
3.When a property deep in a 1031 exchange chain is sold in a taxable sale, what amount is subject to tax?