Considering 1031 Exchange funds to purchase a rental for your college bound child to occupy?
As many of us are planning for our children heading off to college in the fall, many of us are considering various questions.
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As your Qualified Intermediary, we make it our job to keep you in the know on all things 1031 Exchange. For recent news and industry updates, look no further.
Reporting your 1031 Exchange to the IRS
Did you do a 1031 Exchange in 2021 that you need to report? If so, you will be filling out an additional tax form for the year.
Read more1031 Vacation Properties
The first thing an investor must understand is that simply holding a property with the expectation of gain does not establish their intent to hold for investment purposes.
Read more1031 Tax Strategies
Here are a few things to remember when you have a 1031 Exchange that straddles 2 tax years.
Read moreSame Taxpayer Requirements in 1031 Exchanges
IRC 1031 requires that the same taxpayer that relinquishes property must acquire the replacement property. This requirement is in place to maintain a continuity of tax. But, this requirement does not mean that the same name that held title on the relinquished property must be the name on the replacement property.
Read moreRelated Party Transactions
Related party exchanges are when a taxpayer does a 1031 Exchange with a person or entity that is related per the tax code.
Read moreCommon 1031 Pitfalls to Avoid
As we approach the end of the year, it is a good time to review some of the common pitfalls that we see as a Qualified Intermediary. We recommend that you avoid these common mistakes.
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