How Do I Identify Replacement Property For My Exchange?
Tuesday, July 26
When you’re ready to complete a 1031 exchange, one of the first questions you probably have is how to find and identify replacement property. Failing to properly complete this step will jeopardize the exchange. The good news is that identifying replacement property is a relatively straightforward...
Common Exchange Questions: Can I Make An Offer On Replacement Property
Monday, July 25
A very common scenario in 1031 exchanges is that the property owner lists his or her relinquished property but does not sell it before they find a great replacement property. The good news is that IRS code does permit you to make an offer on replacement property before closing the sale on your r...
Four Most Common Types Of 1031 Exchanges
Saturday, July 23
As an investor, you have likely considered a 1031 exchange in order to defer capital gains tax. But did you know that there are actually a number of different ways that an exchange can be completed?Simultaneous ExchangeThis type of exchange occurs where the closing of both the Relinquished Proper...
What Property Does Not Qualify For A 1031 Exchange?
Wednesday, July 20
A 1031 exchange is a powerful tool to help defer capital gains taxes and build wealth. When done correctly, it allows an investor to sell business or investment property and avoid the immediate payment of taxes on any profit. However, if done wrong, any tax benefit can be quickly lost. One way t...
10 Things To Know About 1031 Exchanges - The Summary
Thursday, July 14
Some investors have been wise to the tax benefits of a 1031 exchange for years. Others are new to the game and may wonder what all the fuss is about. They may hear the phrase “let’s 1031 that” bandied about by realtors, attorneys or other investors, but may not be clear on what this process invol...
1031 Basics: What Is "Basis?"
Thursday, July 14
Understanding basis is the first step in conducting a successful 1031 exchange.A property’s “basis” is the amount of capital that the IRS considers an owner to have in a given property. Basis is usually the property’s purchase price or, in the case of bequeathed property, its fair market value at...