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NOTES 253 Tax Lawyer, Vol. 57, No. 1 NOTE WATER RIGHTS AND LIKE KIND EXCHANGE: WIECHENS V. UNITED STATES In Wiechens v. United States,1 the United States District Court for the District of Arizona granted the government’s cross-motion for summary judgment, asserrtin that the gain realized from the disposition of water rights was taxable. The court held that the exchange of water rights for a fee simple interest in farmland was not a like-kind exchange within the meaning of section 1031 and “[did...

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