I have been handling Section 1031 tax-deferred exchanges as a Qualified Intermediary for more than 30 years. The following are some of the typical exchange myths I hear repeated almost every day.
Your case will be handled exclusively by a Certified Exchange Specialist® who fully understands the complex requirements of 1031 exchanges.
IRS Revenue Code Section 1031 allows sellers of investment or business-use real estate to defer paying capital gains and depreciation recapture taxes when they use the proceeds of the sale to purchase one or more additional pieces of investment or business-use real estate in a transaction called a “1031 Exchange.”
Deferring taxes allows you to leverage the full proceeds of a sale towards the purchase of additional properties enabling the purchase of larger or more productive properties.
To qualify for tax deferral, sellers must comply with the strict timelines and rules set forth in the Internal Revenue Code (IRC). Proceeds of the sale should also be placed with a third party known as a Qualified Intermediary.
The experts at Affiliated 1031 are here to guide you with the important personalized information and documentation you need for a smooth 1031 Exchange transaction.