1031 Exchange Basics
Counting correct 1031 Exchange timelines is critical to successful transactions. Today we discuss the issue of when the 45-day (for Identifying) and 180-day (last day to close on the purchase of replacement property) timelines in a Section 1031 exchange begin....
1031 Exchange Basics
So far this year, our office has had 3 clients have their property taken by a governmental agency through eminent domain proceedings. So, let’s briefly discuss some of the questions they should have asked and the information their financial and/or legal advisors...
1031 Exchange Basics
The Basic 1031 Identification Rule Is:The Exchanger has only 45 days from the day of closing on its relinquished property to identify possible replacement property. WARNING: Section 1031 and the IRS regulations thereunder have strict requirements for the...
1031 Exchange Basics
First, it is not only the capital gains tax that the taxpayer will be deferring payment on, when transacting a Section 1031 exchange, it’s also the additional depreciation recapture tax on the relinquished property, as well as any State income taxes if any. The rules...
1031 Exchange Basics
Invariably, when I give a seminar or speech on 1031 exchanges, a question on mixed-use 1031 exchanges is raised. What is mixed-use? Pretend my last name is McDonald. Further, pretend that I am a farmer. AND on my farm–E- I, E- I – O, –ENOUGH of the...
1031 Exchange Basics
What is the Bundle of Rights Theory? If you were to scrape off the outer covering of an electrical cord to your TV set, you would find a number of intertwined electrical wires. You, the owner of the TV set and its attached electrical cord, would own all of the...
Stephen Wayner is an attorney, Certified Exchange Specialist (CES), and Managing Director of Liberty 1031. Mr. Wayner is recognized as a leading authority on the subject of 1031 exchange transactions. He is a current board member of the Federation of Exchange Accommodators (FEA) and is the author of numerous books and articles on 1031 Exchanges and real estate investing.
Mr. Wayner has been cited as an expert on 1031 Exchanges in publications including USA Today, NewYork Times, Business Week, and The Wall Street Journal among many others.