Then the partnership can be on title as the owner of both current properties and then the partnership can be the consistent taxpayer for a clean 1031 exchange.

Here are some examples of those methods below: Rely on the county tax assessor’s allocation: A taxpayer can review their county tax assessor’s property allocation, which usually provides an assessment of land and improvements based on the county’s guidelines.

For a 1031 to qualify for the tax deferral the same taxpayer needs to be on title for relinquished property and replacement property.

So for these locations, leasing to a car lot is a “tax payer”; no cash flow just enough rent to cover the insurance and property taxes and perhaps a moderate loan service.  

Do you know how to claim various safe harbors (de minimis, small taxpayer, etc).

If a full scope appraisal showing the land value was not completed during the purchase process, taxpayers may consider the following options:Rely on the county tax assessor’s allocation: A taxpayer can review their county tax assessor’s property allocation, which usually provides an assessment of land and improvements based on the county’s guidelines.

., Each of those LLCs are different tax payers owning different properties. 

In others, you're buying the tax receivable for a certain year; you pay the taxes to the city/county in place of the taxpayer, and now the taxpayer owes you instead of the gov't.

Once a taxpayer meets the REP status, do they need to materially participate in each property?

Hey Marc, Claiming Real Estate Professional Status (REPS) for a taxpayer (TP) who is a W-2 employee and involved in asset management is indeed challenging.