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1031 Exchange Experts is the leader of companies with information on the rules, requirements and guidelines of investment real estate, which are 1031 properties by definition.

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Ask us a 1031 question.Paul: Inlaws need to sell farm land in Iowa and would like to buy a residence in Colorado. They intend to rent out the residence in Colorado until they move out here. Can they move in after it has been rented for at least a year?
Ask Phillip Ladd1031 Phil: They can, however, there is a Rev. Proc. that would guarantee the success of the exchange if they waited two years to move into the property.
Ask us a 1031 question.Helen: I sold for 200,000 & Owed nothing; basis was 10,000. New property was 550,000 and I borrowed 500,000. At closing, I received $150,000 which I then used to build out the interior. Do I have taxable income?
Ask Tracey Wilson1031 Gary: My first answer is to always consult with your financial or tax advisor.  Having said that, based on what you've more.
Ask us a 1031 question.Roger: If I own property in an S corp and do a 1031 exchange can I go into the new property with ownership in the individuals name rather than the S corp name.
Ask Phillip Ladd1031 Phil: Roger - The IRS says that the "taxpayer" must remain the same during the if you sell as an S-Corp the S-Corp must buy also.

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Don't trust your 1031 investment with anyone who isn't an Expert.


Bare Bones Basics of a 1031 exchange
  by Gary Gorman
Founder, Managing Partner, 1031 Exchange Experts, LLC

1031 exchanges, at least as we know them today, have been around since 1991. Most people in the real estate industry have heard of them and seem to have a grasp of how they work and what the requirements are. Occasionally we get calls from someone who has not heard of a 1031 exchange, or has no clue what the rules are. So now would be a good time to do a refresher course, if you will, on the basic rules of an exchange.

Rule #1 – Both the Old Property and the New Property must be held for investment or used in a trade or business. Many people think that if you sold a purple duplex, you must buy a purple duplex. This is not the case – you can buy any other kind of investment real estate: you could buy an apartment building, an office building, a warehouse or bare land.

Rule #2 – 45-day identification requirement. From the day you close the sale of your Old Property, you have 45 days to complete a list of properties you might want to buy. Typically this list will have three properties or less, because you can list up to three properties with no limitations. For example, if Fred and Sue Investor sold their Old Property for $100,000, they could list three pr....

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See also:

Getting More by exchanging rather than selling- Phil Ladd

Common 1031 Misconceptions- Cody Walkup

1031 In a Nutshell- Kim Bicket

Why do a 1031 Exchange? - Jim Sides

Exchanging & Saving- Elaine Brockman

1031News This Week
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1031 NEWS...

Another Nail in the 1031 Fix-and-Flip Coffin

Gary Gorman

Gary Gorman
Founder, Managing Partner, 1031 Exchange Experts, LLC

Whether a person can do an exchange on a fix-and-flip property (one that's been bought, fixed up, and put back up for sale) is a controversy that comes up from time to time--driven of course by taxpayers who have large profits on property they've owned for a very short period of time. We last saw a lot of interest in them when the real estate market was at the peak of the bubble. We're seeing it again as folks buy foreclosure properties, fix them up and put them back on the market.

Section 1031 rolls the gain from property held for...

Read the rest of, "Another Nail in the 1031 Fix-and-Flip Coffin" here....

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Recent articles:

Renting 1031 Exchange Property to a Relative - Gary Gorman

How Selling Your Property on a Contract Impacts Your 1031 Exchange - Gary Gorman

Bifurcating a 1031 Exchange: Cutting an exchange transaction into separate parts- Gary  Gorman

New Seller Financing will impact your 1031 exchange - Gary  Gorman

Using 1031 Exchanges as Part of Your Estate Plan - Gary Gorman


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spacer is rare to find business partners who truly "Under Promise and Over Deliver."

I highly doubt that any large title company would provide that level of immeadiate, and personal attention.

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Robert G. Priest, Managing Partner
Stratford, CT

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Tax Court Affirms 1031 "Intent..."


Section 1031 says you have to hold both your old and new properties with an investment intent, but it doesn't define what investment intent is. We, like most 1031 advisors, use the year-and-a-day holding period as a benchmark for defining investment intent. But there are many investors who are willing to risk a shorter holding period.

The IRS will attack these shorter holding periods, and they almost always win. But if you... read the rest of "Tax Court Affirms 1031 "Intent..." subscribe to Tee-Shots below

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Tee-Shots are SO informative....

...and keep us up-to-date regarding changes to the 1031 process. Tee-Shots help keep me in the loop to protect my client's welfare.

Linda Doting, Realtor
Keller Willliams Mountain Properties
Edwards, CO

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