1031 Exchange Corporation
© 2007-2020, All Rights Reserved
6010 Balcones Drive, Suite 100
Austin, Texas 78731
Office: 512-419-1031
Fax: 512-229-1031
When property is sold, the seller pays tax on any gain or deducts a loss. Section 1031 of the tax code gives taxpayers an opportunity to defer any gain on the sale of qualified property.
Most exchanges are completed through an intermediary (such as 1031 Exchange Corporation). The IRS has published rules (safe harbor rules) for an intermediary assisted exchange. If these rules are followed, the IRS will not challenge the exchange. This safe harbor is a primary reason for using
Read moreDoes An Exchange Make Sense?
Should I exchange is a common question. Sometimes the answer is clear and other times it is not. We will examine some of the issues or decision points which can help you decide.
Do you intend to re-invest in like-kind property?
If the answer is yes, the exchange decision is easy. An exchange makes sense if the cost of the exchange is less than the tax saved.If you do not intend to re-invest in like-kind
Planning can maximize benefits
Very little forethought is required to set up an exchange. You can even call a few hours before closing and we can usually prepare the documents required to establish an exchange. However, a little planning can help maximize the tax and economic benefits from an exchange.
Planning should start with an analysis of the property (relinquished property) you intend to sell or exchange. What is the likely sales price of the property? What is your tax basis?
Read more© 2007-2020, All Rights Reserved
6010 Balcones Drive, Suite 100
Austin, Texas 78731
Office: 512-419-1031
Fax: 512-229-1031