‘Black Holes’ for Capital-Gains Tax Come Under Treasury Fire
Action Required: Review client portfolios that utilize ETF-based tax conversion strategies to ensure alignment with new IRS boundaries.
The IRS is cracking down on '351 conversions' where ETFs are used to swap appreciated securities for a different portfolio without triggering immediate capital gains taxes. Financial advisors utilizing these tax-optimization strategies for clients should review their current portfolio transition techniques to ensure they do not fall under this new regulatory scrutiny.
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