Year-End 1031 Exchange Tips

Year-End 1031 Exchange Tips

2018 is coming to a close and with it, so are many 1031 exchanges. This article offers some year-end tips for your 1031 exchange of real estate.

Remember Your Deadlines

It’s always important to be aware of your 1031 exchange deadlines. As a quick reminder – you have 180 days total to complete your 1031 exchange, with the first 45 of those days being set aside for replacement property identification.

Don’t Forget About the New Rules

There was a big change-up in the 1031 exchange universe in 2018. The Tax Cuts and Jobs Act preserved like-kind exchanges of real estate, but eliminated 1031 exchanges of personal property. If you were hoping to exchange your art, gold coins, business equipment, or other items of personal property, I’m afraid that’s no longer in the cards.

Consult with Your CPA

No one knows your unique tax situation better than your CPA. It’s a good idea to consult with them if you are considering a 1031 exchange. They will be able to offer you guidance as to when you should do the exchange and how an exchange can fit into your tax strategy.

1031 Exchange Accommodators

If you are considering a 1031 exchange of your real estate, a third-party administrator can help you through the process and ensure your exchange is a success. The intermediaries at Commercial Partners Exchange have more than two decades of experience assisting taxpayers with their like-kind exchanges. We bring that level of experience to each and every transaction – so you can rest assured you are in good hands with us. Contact our like-kind exchange professionals today to get your exchange started.

  • 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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