Correction


An article in January, “Home Free,” misstated a rule for excluding gain under IRC section 121 from the sale of a home acquired in an IRC section 1031 like-kind exchange. The home must have been held five years but does not have to be used as a principal residence for that period. The JofA regrets the error.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

SPONSORED

Building process maps: Template and instructions

Documenting your financial close process and finding opportunities for automation are more important than ever. Our customizable slide deck has instructions, a risk assessment questionnaire, and bonus checklists that will help you map out your process.