Friday, August 23, 2013

1031 Exchange

A 1031 Exchange—Tax Deferred or Like Property Exchange—is an exchange of real property in which no taxable gain or loss is recognized at the time of sale. Section 1031 of the Internal Revenue Code allows investors to defer the payment of state and federal capital gains taxes by exchanging one investment property with another, rather than selling it. Ask me about our 1031 exchange mortgage program up to 85% Loan to Value.

Always verify your exchange deadlines with your tax advisor.
Notice: The actual deadline for completing an exchange is the earlier of either 180 days from the date on which the Exchanger transfers the relinquished property, or the due date, including extensions filed by the Exchanger, for the Exchanger's tax return for the year of the transfer of the relinquished property. Consult your tax advisor regarding your tax filing requirement dates.