1031 Exchange Basics
CAN THE GOVERNMENT GIVE AN EXTENSION TO THOSE PARTIES IN A SECTION 1031 EXCHANGE AS A RESULT OF THE CORONAVIRUS? Yes. Federal law permits the IRS to grant taxpayers affected by a federally declared disaster additional time to perform certain time-sensitive acts As...
1031 Exchange Basics
Clients ask “What if the 1031 Exchange Fails to Complete?” Over the past month, three attorneys have asked the same question; When can the Exchanger receive their funds back when a 1031 Exchange transaction fails to complete properly? What are the 1031...
1031 Exchange Basics
What Happens When 1031 Exchanges Fail to Complete? My primary goal as a Qualified Intermediary (QI) is to ensure that our client engages in a successful 1031 exchange, resulting in deferred capital gains taxes, etc. 1031 Exchanges are not successful every single...
1031 Exchange Basics
The Leverage of 1031 Tax Deferral is Available to All Investors As the Internal Revenue Code’s Section 1031 becomes more widely known across the country, many investors are discovering the advantages of 1031 Exchange investing. Yet, some misinformed investors...
1031 Exchange Basics
Is it possible to apply a 1031 exchange to defer taxes on gains on vacation-second homes property — a beautiful home in the country, a cozy cottage on a lake, a gorgeous condominium on the ocean, or a rustic cabin in the mountain? The answer is “yes”...