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The
regulations, court cases, and IRS rulings
that apply to your exchange are ever-changing.
It is important to choose a QI like
The 1031 Exchange Experts that understands
these laws, and carefully monitors
new legal developments.
¿Cuáles
son las reglas del IRS para los intercambios...? |
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The
IRS Rules for Exchanges...
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You
will need to follow six primary rules
for your exchange to meet stringent IRS
regulations: |
 Real
Property Use. Both your
old and new properties must qualify
as investment or business use. If
both properties pass this test, you
can exchange nearly any type of real
estate.
 45
Day Identification Period.
You have 45 days from the closing
of your sale to list the properties
you may want to buy. There are no
exceptions to the deadline.
 180
Day Exchange Period. From
the sale closing date, you have 180
days to close on the purchase of
one or more properties from the 45-day
list. Again, there are no exceptions
to this deadline.
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Nationwide,
Toll-Free: 866-694-0204 |
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WATCH
the presentation
NOW! |
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28
minutes |
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 Qualified
Intermediary (QI). The
IRS mandates that you use a QI
to prepare the legal documents
for your exchange. Because the
QI must be independent, it cannot
be your friend, employee, broker,
or even your accountant or attorney.
The QI also holds your money,
so that you do not have access
to it.
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 Proper
title holding. You must
purchase and take title to your
new property exactly as you held
title to your old property.
 Reinvestment
Requirement. To defer
all of your capital gain tax,
you must buy a property equal
or higher in value than the
one you sold. Also, you must
reinvest all of the cash proceeds
from your sale.
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"It
is our pleasure to endorse your
company, The 1031 Exchange Experts..."
After
5 transactions,
we have been very satisfied with
the smooth and professional manner
in which you have handled these
accounts. We are looking forward
to continuing this with future
transactions. With your knowledgeable
team of Experts, it makes the
transaction smooth.
Edna
& Sherman Heck
1031 Investors
Forked River, NJ
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Dear
Tony,
Once
you have identified the
3 properties within the
45 days, you must close
on 1 or more of those properties.
This closing(s) must take
place by day 180 from the
date of the sale of the
old property. If you don't
close on any of them within
the 180 day deadline. that
means the exchange fails,
and is now a taxable event
to you. There are no additional
penalties assessed.
Sincerely,
The 1031 Exchange Experts |
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