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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! - updated
05.15.08 |
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28 minutes
- see
the IMPROVED presentation
NOW! |
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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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