1031 exchange

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Latest blogosphere posts tagged “1031 exchange”

 

• Do you have to use a real estate agent to sell your property? Can we FSBO the house we own to maximize profits?

  
  1031 Exchange is Easy — Authority: 79
  Tweet Absolutely! You may certainly 1031 Exchange your property for another property without the assistance of real estate agent. 1031 Exchange is a tack-on to a straight real estate sale and all real estate rules still apply. Though, in defense of real estate pros, the advantages of using a real estate agent are ...
  2 weeks ago

• When a 1031 Exchange property is gifted in the latter part of a tax year (i.e., more than 6 months into the year) which party claims the investment property (and associated income and deductions) on their tax return? Can this be determined by agreement be

  
  1031 Exchange Information Blog — Authority: 79
  Tweet Gifted 1031 Exchange properties are tricky business. Though some may consider it a cop-out, the best mode of action is to discuss this with your CPA or attorney.  Your question contains specific detail that could lead to answer in either direction. Because of this, it is much better to discuss your ...
  2 weeks ago

• We’ve been renting out our second home for 5 years, can I 1031 Exchange it for something else?

  
  1031 Exchange Knowledge Base Blog — Authority: 79
  Tweet Depends on whether you can prove the home was in fact a rental that you lived there less than 2 weeks in year. If that is that case, and you can prove the home is a rental, yes, you can 1031 exchange it for another property.
  2 weeks ago

• My TIC property was sold before I could locate an accommodater. they sent me a check for my % of investment(it has not been cashed). The issuing bank said they could void the check and send it to an intermediary. Is there anyway to back up the clock for a

  
  1031 Exchange Procedures — Authority: 79
  Tweet There still may be time if you haven’t accepted the check and taken title of the property. In order to prevent constructive receipt, you need to be certain NOT to have cashed the check for the 1031 Exchange proceeds. Better call your closing company ASAP and have this reversed, then contact your 1031 ...
  2 weeks ago

• We are considering selling our portrait photography studio with about one acre of land. We want to know if we can use the 1031 exchange rule to use the money that would be taxed to reinvest into rental property.

  
  1031 EXCHANGE FAQ BLOG — Authority: 79
  Hi Elaine! 1031 Exchange properties are those considered a like-kind by the IRS. This includes business real estate and land. So if you are selling a portrait studio, if the business owns the building and the land that it occupies, you may sell it and exchange for a rental property. However, it should be noted that ...
  2 weeks ago

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