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Nationwide, Toll-Free:
866-694-0204
Anytime,
day or night, 24/7, even weekends!
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 Richard: Dear
Sir, I am writing to you today
to inquire about the prospects
of offering our property for
sale to "1031 exchange" clients.
We would like to know how to
make our property available
to 1031 participants. If you
can help or advise us, please
feel free to contact me. |
 1031
James: Dear
Richard, You can Download
an application here. Featuring
a 1031property-for-sale on
our home page for 7 days.
You can get it for free if
you... read more.
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| Chris:
Can I exchange real estate
for a private rail car. Which
will be held as a business
to be rented out on rail car
trips? |
 1031
Cody: As described,
no. If it moves, it must
be like-kind, ie: railcar
for railcar. BUT if it were
bolted to the ground and
being used as a building,
THEN you could make a good
case for exchanging into
it from a restaurant, an
apt bldg, a barn, a rental
house, etc. |
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Realtors®: How
are you marketing your 1031 services?
The
Experts are offering
you a marketing tool
called THE 1031BUTTON for
your real estate. It's
free and will educate
your clients on 1031
exchanges. Hey! When
you help them, that helps
YOU!
Your
web prospects can even
type in questions that
will be answered free by
an Exchange Expert! We
do the work, you get the
credit!
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To
put THE 1031BUTTON on
your website for free, simply
email the link 1031button.com to your web developer.
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| Bare Bones Basics
of a 1031 exchange |
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Elaine Brockman
for 1031 Exchange Experts, LLC |
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When
investment real estate is sold, payment
of capital gains tax can be deferred IF the
taxpayer does a 1031 exchange. In other words,
instead of selling the property for cash, the
taxpayer exchanges it for a like-kind property.
In a 1031 exchange, “like-kind” means
exchanging one investment property for another
investment property.
A 1031 exchange
is NOT ‘a-sale-and-a-purchase,’ but
an exchange of one property for another.
There
must be a written exchange agreement that shows
that ALL the steps, from the transfer of the
old property to the receipt of the new, is
part of an overall plan.
That plan being
the 1031 exchange.
The rules for an exchange
are not complex, but they are strict:
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1) The real property
must be held for long-term investment—not
for quick turnaround or just for personal
use. |
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2) You have 45
days to.... |
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1031News
This Week |
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08/18/2008 |
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IRS
(and States) Target More Audits Of 1031 Exchanges |
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Gary Gorman
Founder, Managing Partner, 1031 Exchange Experts, LLC |
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Section
1031 of the Internal Revenue
Code allows a taxpayer to roll the gain
from the sale of their Old Property over
to their New, provided they do certain
things which are detailed in the code.
What most people don't understand is that
Section 1031 is a "form driven" code
section. This means that you must do exactly
what the code section requires; if you
don't your exchange will be disallowed
if audited; you must dot the i's and cross
the t's.
Over the years
I've seen a lot of....
read
more....
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08/19/2008 9:05:00 AM
IRS Form 8824: This is the official 2-page
form that you submit with your federal tax
return to report the details of your 1031 exchange.
You may be required to submit additional tax
forms and calculations that relate to your
exchange, but 8824 is the only form used for
reporting the exchange itself.
You must file Form 8824 with your tax return
for the year in which you sold or transferred
property in an exchange, regardless of when you
purchased the New Property. For example, if....
read
more... |
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