Keeping Your Money Safe In a 1031 Exchange
Sunday, July 30
One cardinal rule of a #1031 exchange is that the investor cannot have actual or constructive receipt of the relinquished property proceeds during the pendency of the exchange. To accomplish this, the investor must retain the services of a qualified intermediary. Given the financial duty of the q...
By the Numbers: What Repeal of Section 1031 Would Mean
Friday, July 28
Although not much seems to be getting done in Washington at the moment, tax reform is still on the short list of goals for the current administration. And although section #1031 isn’t directly mentioned anywhere in the “Blueprint for Tax Reform” that began circulating in 2016, there are certain t...
Key Deadlines for 1031 Exchanges
Wednesday, July 26
If you’re thinking about completing a #1031 exchange to trade investment or business real estate, you should have a thorough understanding of all the deadlines involved. Failing to meet even one can jeopardize the tax-deferred nature of your transactions.The good news is that there are two main d...
What is the Definition of Related Party in a 1031 Exchange?
Tuesday, July 25
If you are an experienced #1031 exchanger, then you already know that special rules apply when you are conducting an exchange with a related party. (If you don’t know about these rules, read up on them here.)However, you may be unclear on who, exactly, qualifies as a related party. As in so many ...
The Importance of Safe Harbors in a 1031 Exchange
Sunday, July 23
When the concept of #1031 exchanges were first introduced in the early 1920s, the original intent was to aid two parties in the simultaneous exchange of real estate. Party A and Party B exchanged real estate with each other and contributed cash if the selling and purchase prices didn’t equalize o...
Three Mistakes to Avoid in Your 1031 Exchange
Saturday, July 22
Section #1031 of the IRS Code is both a blessing and a curse. While it can offer potentially impressive tax-deferral benefits, it can also bring with it a lot of stress and uncertainty to catch the inexperienced 1031 investor off-guard. Oftentimes, an investor can make a mistake without ever real...