Sale of 1031 trigger

[Pete Harper]

I recently closed a deal using 1031 exchange. I was wondering when it comes time to sale how is the IRS notified?  It's not like there is a tax lien on the property is there?

If the 1031 originated in a state with income taxes and you have moved to a state without income taxes, do you still owe taxes in old state?

Thanks

[Wayne Brooks]

@Pete Harper The irs gets a 1099 form showing the total proceeds to you, from the title company…it comes up when your tax return is filed, they’ll be looking for the reporting of it on that tax return.