( The following is an excerpt from our 1031 Advisor newsletter located here )
I never tire when clients or professional advisors ask a plethora of interesting questions about Section 1031 exchanges. Here are three of my favorites:
What is the minimum I must do to have a fully deferred Section 1031 exchange? In order to defer all taxes on an exchange, the owner/exchanger must use all the proceeds from the sale of relinquished property to acquire the replacement property. This includes costs of the sale and fees on the replacement property. Improvements can also be made to the property, as long as they are done prior to the owner receiving the deed. In this case, the Qualified Intermediary is on the deed until all improvements are completed.
Recent Tweets