Liberty 1031 Blog
Basic and Advanced Missives and Case Studies That Illustrate Successful Liberty 1031 Exchange Strategies.
Disaster Relief and 1031 Exchanges
FACTS: The Exchanger, who lives in Idaho, has closed on its Nevada Relinquished Property ( an investment rental home valued at $350,000) on August 1, 2017. The Exchanger has timely identified its possible Replacement Property, before the 45th day for...
Two Properties Exchanged for One Property of Lesser Value
FACTS--A very bright client of ours purchased two different properties a number of years ago. These two properties were in a developing area of Miami-Dade County. Additionally, both of these lots had neighboring properties that were raw acreage. These two (2)...
Converting an Apartment Building Into a Condominium – Is This a Viable 1031 Exchange Procedure?
The case law on this type of 1031 Exchange transaction shows that the IRS may consider the exchanger to be a "Dealer" rather than an investor which will disqualify the transaction as a 1031 exchange relinquished property sale. The case law varies in outcomes, but...
Everything You Need to Know about 1031 Property Identification
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...
What Taxes Will be Due When Replacement Property Cost is Less Than Gains Received?
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...
Mixed-Use 1031 Exchanges – What You Should Know
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 nursery...
THE “BUNDLE OF RIGHTS” AND SECTION 1031
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...
1031 Exchange Replacement Property Identification Rules
When using a Section 1031 Exchange transaction to defer taxes, the Exchanger has only 45 days from the day of closing on its relinquished property to identify 1031 replacement property or multiple replacement properties. Below are three rules for identifying multiple...
November 18th –A VERY IMPORTANT DATE FOR SECTION 1031 EXCHANGES!
THE PROBLEM: On a Section 1031 Tax Deferred Exchange, the taxpayer has 45 days from the closing of the sale of the relinquished property, to identify possible replacement properties. Should the taxpayer close on the sale of their relinquished property on or...
Tax Deadlines Affect Section 1031 Exchange Eligibility
THE PROBLEM: For a Section 1031 Exchange, where the relinquished property was transferred between October 19, 2016, and December 31, 2016, you might not have a full 180 days to close on your replacement property. The reason lies in Treasury Regulation Section...
About Stephen A. Wayner, Esq., CES
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. Reach Us
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