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Have Questions? 1-303-789-1031

Dear Valued Client/Partner, We are pleased to share the following information with you. Yesterday afternoon, the IRS issued guidance (Notice 2020-23) providing time-constraint relief for Section 1031 Like-Kind Exchanges. Under this deadline extension language, it appears that any 45-day or 180-day deadline occurring between April 1 and July 14 will be extended to July 15,…

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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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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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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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By Daniel E. McCabe, ESQ., Vice President Exchange Resource Group, LLC A common question our clients ask is whether their vacation or second home qualifies for a 1031 tax deferred exchange. The answer is “probably.” This answer hinges on the actual use of the property by the owner. The IRS has somewhat clarified their position…

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The golden years of the last bullish real estate market witnessed a boom in investors taking advantage of the incredible wealth building tool of the 1031 Exchange. In 2005 alone, over 500,000 1031 Exchanges were performed by knowledgeable investors and, quite literally, several billion dollars in taxes were deferred and allowed to grow in those…

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“The Ultimate Beginners Guide to Real Estate Investing” is a free, 64 page ebook that provides a basic overview of real estate investing with links to more information on the Bigger Pockets website. It covers eight topics in as many chapters and is a pretty quick read – if you can keep yourself from following…

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What is the IRS’s Position on Reverse Real Estate Exchanges? The IRS issued Revenue Procedure 2000-37 (Rev Proc) in September 2000 that gives taxpayers guidance on Reverse 1031 Exchanges. A “Safe Harbor” Reverse introduces a new entity into the reverse process-an Exchange Accommodation Titleholder (EAT). An EAT is a single member limited liability company (LLC)…

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