SHOULD I USE A 1031 EXCHANGE?
1031 EXCHANGE KEY INFO TO KNOW:
These are just high level highlights, for more information give us a call to connect with an experienced 1031 Exchange Agent
What exactly is a 1031 Exchange?
A 1031 exchange is a swap of properties that are held for business or investment purposes.
Which properties qualify?
The properties being exchanged must be considered like-kind in the eyes of the Internal Revenue Service (IRS) for capital gains taxes to be deferred.
How often can I perform a 1031 exchange?
If used correctly, there is no limit on how frequently you can do 1031 exchanges.
Are there any special forms I need to submit?
Yes. You need to submit Form 8824 Like-Kind Exchanges, which you can find on the IRS website here: https://www.irs.gov/forms-pubs/about-form-8824
Should I hire a 1031 Exchange Intermediary?
Absolutely! Because of the tricky timelines and constant rule changes, you will want an expert working on your file to assure you don't miss any steps. If you need a list of qualified local experts, we'd be happy to connect you.
*this 1031 Exchange info is subject to change. RRP highly recommends checking the government websites for most accurate info
