Here's an index of the items which will asisst you in streamlining your exchange.
Tax deferred exchanging has been in the Internal Revenue Code for almost 100 years and it still represents the best wealth building vehicle available to investment property owners from coast to coast.
In order to complete a compliant 1031 exchange there are a few keys rules with which you must be familiar. The three item below represent the main rules set forth by the IRS for your exchange.
In addition to the rules regarding timing and the types of properties available to be exchanged, here are a few guidelines which will help streamline your exchange.
Once your exchange has been completed you'll need to include the details associated with your exchange on your next tax return. You'll need to attach IRS Form 8824 with your tax return. It is a one page form which informs the Internal revenue Services regarding your underlying 1031 exchange math and which allows you to transfer your adjusted cost basis from your Rel9nquished Property into your Replacement Property. This is also the form where you will report any cash or mortgage boot as well as any tax owing.
The team of Exchange Officers who assist with your exchange have successfully completed tens of thousands of 1031s.
Fyntex leads the 1031 exchange industry through the technology and data security of their Fyntex Exchange Center.
Exchangers have direct access to their exchange documents, funds on deposit and the ability to communicate securely.
Fyntex uses Qualified Escrow Accounts. Our banks will never move funds without the authorization of the Exchanger.
Fyntex has a secure online identification tool so Exchangers can ID Replacement Property from their smartphone.
All comunication between Exchangers and their Exchange Officer are encrypted and all uploads / downloads are secure.
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It is important to understand how the math associated with a 1031 exchange can impacts your ownership. A completed 1031 exchange not only defers capital gain and depreciation recapture taxes, it also dramatically increases your buying power as well.