Setup Before Closing
You must select a Qualifed Intermediary and have your exchange documents prepared and executed prior to the close of your old property
Read MoreThe tax deferred exchange of appreciated real property and the acquisition of replacement property has been a part of the Internal Revenue Code since 1921. And while most exchanges are completed easily, there are times when certain logistics or tax ramifications can complicate the process decidedly. This is why it is critical to work with not only a broker who is experienced with 1031 exchange, but also a Qualified Intermediary who has proven their ability to streamline your exchange and monitor your transaction appropriately.
As far as Qualified Intermediaries we appreciate the value proposition of Fyntex, one of the leading 1031 processors in the country. The technology with which they process any exchange is state of the art as well as the secure 24/7 visibility they provide to Exchangers. Lastly, but still important is their commitment to using only restricted 1031 exchange accounts to hold your 1031 exchange funds on deposit. This the absolute safest method for having your hard earned 1031 proceeds with any QI because your dollars will never be moved without your explicit authorization.
Here are the key rules with which you'll want to become familiar
You must select a Qualifed Intermediary and have your exchange documents prepared and executed prior to the close of your old property
Read MoreYou have a total of 180 days to complegte your exchange or whenever you tax return is due. Starting late in the year? Get an extension
Read MoreThe IRS requires that you identify targeted Replacement Properties within 45 days of your closing and you must use one of three ID rules
Read MoreTo have a totally tax deferred transaction do three things, buy equal or greater in value, move all cash to new property, & replace your debt
Read MoreThis comprehensive tutorial explains everything 1031 from beginning to end.
Read moreHave a standard 1031 question? Check here and you'll probably find your answer.
Read moreHere is a multimedia oriented recap of the critical keys to 1031 exchanging.
Read moreWe curated some video clips which are sorted for your convenience by topic