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Posts by Drew McCabe

Mary & Louis

Hi Dave and Scott, Just a note to thank you both for your work on our first 1031 Exchange.  You were both easy to work with and immensely patient with our cast of characters. We appreciate your knowledge and expertise and will be reaching out to you when we are ready for our next 1031. Until then,…

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Combining 1031 Exchanges and Estate Planning

Section 1031 Like-Kind Exchange and Estate Planning A taxpayer and their heirs can benefit greatly from a 1031 Exchange when selling business- or investment-use real estate: Pay no tax at the time of selling the property, which allows for maximum reinvestment buying power. Reinvest in other business- or investment-use property in order generate/replace monthly income;…

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The 6 Rules of 1031 Exchanges

Reverse 1031 Exchange

Introduction To The Six Rules of 1031 Exchanges: Section 1031 Exchanges are invaluable wealth-building tools recognized by the IRS to defer capital gains taxes you might incur upon the sale of property.  They serve a valuable purpose in wealth-building by managing tax considerations as you grow your financial estate. But, 1031 Exchanges are carefully-controlled to…

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How did 1031 Exchange do in the New Tax Law?

The ERG Incentive

First, the bad news, personal property 1031 Exchanges are, now, not allowed.  If you started your personal property 1031 Exchange prior to January 1, 2018, you can still finish it.  But, moving forward, personal property can no longer receive 1031 Exchange treatment.  This mostly affects fleet exchanges (i.e. semi-trucks and rental cars), antique dealers, airplane…

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