“Like-kind” is one of the essential litmus tests in a 1031 exchange. Many people think that if they sell a single family rental, they need to buy another single family rental in order to do a 1031 exchange. That’s not true. So long as the replacement property is like-kind to the relinquished property, you can buy all sorts of property types (DSTs, TIC property, development rights, air rights, etc.) The definition of “like-kind” is very broad in the realm of 1031 exchanges of real estate.
CPEC1031, LLC – Qualified Intermediary Services
CPEC1031, LLC provides qualified intermediary services to taxpayers conducting 1031 exchanges across the state of Minnesota, as well as the entire United States. Our intermediaries are standing by to help you navigate the 1031 exchange process from start to finish. You can reach us at our Twin Cities office, located in downtown Minneapolis. Give us a call today to learn more about the 1031 exchange process and see how you can save money in deferred capital gains taxes when selling qualifying investment real estate.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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