Liberty 1031 Blog
Basic and Advanced Missives and Case Studies That Illustrate Successful Liberty 1031 Exchange Strategies.
1031 Exchange Investing – One Marine’s Path to Financial Security
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...
Vacation-Second Homes and 1031 Exchanges
Can you use 1031 Exchanges for vacation-second homes? The answer is “yes” but there are very specific rules to follow.
Counting 1031 Exchange Timeline Days
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....
Section 1031 Exchange vs. Section 1033 Conversion
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...
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...
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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