Also, why would State not accept any “contemporaneous record” maintained by the taxpayer (or taxpayer’s CPA)?

Probably a good thing for US tax payers since we are in a seller's market.

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Follow your favorite forum topics and set up keyword alerts!

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Follow your favorite forum topics and set up keyword alerts!

You can sell that property as the trust and buy as yourself or as a "disregarded LLC"(an LLC that you are the only member of and that also does not file it's own tax return.In a 1031 exchange, the taxpayer for the old property must be the tax payer for the new property. 

Talk to an accountant about de Minimis Safe Harbor and Safe Harbors for Small Taxpayers.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsBest of luck here at BP Nation.

In DeCleene, 115 T.C. 457 (2000) the taxpayer closed on a vacant lot and then transferred the lot to a third-party while improvements were constructed.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Best of luck here at BP Nation.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsGood luck on everything!