record keeping 1031 construction exchange

Dear 1031x.com: What requirements, including records & documents, must a  taxpayer satisfy in a 1031 Construction Exchange (where the EAT disburses  funds to contractors)?

Dear Mr. K:  The burden of proof is always on the taxpayer to prove compliance with tax law.  There are no set rules for establishing compliance with construction exchange requirements.  Of course when we handle these every invoice is carefully logged and every disbursement corresponding to every invoice is carefully accounted for.  This is in addition to the accounting records surrounding sale of relinquished property and purchase of replacement property.  Sincerely:

Steve Hickox
Attorney / President

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