1031 Exchange Blog
In this video, we’ll be talking about what financial planners and investors should be asking about the DST from the wholesaler or sponsor that’s selling them the DST interest.
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.
© 2023 Copyright Jeffrey R. Peterson All Rights Reserved
A qualified intermediary is an essential part of any 1031 exchange, but many people are unaware of the true benefits of hiring an intermediary. In this article, we are going to discuss a few of the many benefits of working with a qualified intermediary on your 1031 exchange of real estate.
Perhaps the greatest benefit of working with a qualified intermediary is the deep pool of 1031 exchange knowledge you have access to through them. Qualified intermediaries are professionals who specialize in facilitating 1031 exchanges of real estate. They are an in-depth knowledge of the process, regulations, and guidelines. They can answer all of your questions that relate to 1031 exchanges.
1031 exchanges may appear simple, but they can get complicated quickly and not all exchanges are ultimately successful. A qualified intermediary can examine the details of your specific property and ensure that you are set up for a successful exchange with 100% tax deferral.
There are many documents and details that need to be lined up during the 1031 exchange process. This can be overwhelming for many taxpayers. Let a qualified intermediary attend to all the details and documents for you.
Looking for help with your 1031 exchange? The qualified intermediaries at CPEC1031, LLC have the skills and resources necessary to make sure your exchange of real estate is a success. Our team can guide you through the process, prepare necessary documentation, and answer any questions you may have along the way. We’ll make sure you are fully prepared when it comes time to close on your properties. Our primary office is located in Minneapolis, but we work with clients throughout the country who want to defer their taxes when selling qualified real property.
It’s important to work with a qualified intermediary whenever embarking on a new 1031 exchange. But many people have questions about how to choose the best intermediary. In this article, we are going to discuss whether or not your qualified intermediary needs to be located in the same state as your property.
In a 1031 exchange, you can exchange qualifying like-kind real estate for other like-kind real estate within the United States. That means you can sell a relinquished property in Minnesota and acquire a replacement property in Florida. In fact, 1031 exchanges between states happen quite often as many taxpayers want to move their investment to different states for a variety of reasons.
Similarly, your qualified intermediary can be from any state. They do not have to be located in the same state as your property. The one thing you should keep in mind is that there are local customs and regulations that differ from state to state. As a result, it’s important to work with a qualified intermediary who has experience facilitating exchanges in your state(s).
Whether you’ve done 1031 exchanges in the past, or you’re interested in starting one for the first time, CPEC1031, LLC has you covered. We have worked with taxpayers on all types of like-kind exchanges for over twenty years. We can put our experience to work for you and ensure your exchange goes as smoothly as possible. Reach out to our qualified intermediaries today to learn more about how a 1031 exchange can help you defer capital gains taxes when selling real estate. We work with clients across the United States.
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.
© 2023 Copyright Jeffrey R. Peterson All Rights Reserved
Many people who are new to the world of 1031 exchanges have questions about the role of the qualified intermediary. In this article, we are going to discuss what a qualified intermediary can do for your 1031 exchange.
The exchange process seems simple on the surface, but there are a wide range of potential pitfalls. A qualified intermediary knows the process inside and out and can make sure you don’t fall prey to any common mistakes.
As with any real estate transaction, there is a lot of paperwork that goes along with a 1031 exchange of real estate. If you miss a form or mess something up it could jeopardize your entire exchange. A qualified intermediary can take this off of your plate and prepare all of your required documents in preparation for closing.
Every 1031 exchange is unique, and every taxpayer conducting a 1031 exchange has a lot of questions that they may not be able to find answers to online. A qualified intermediary can answer all of the questions you have regarding your 1031 exchange so you feel confident that your exchange will be a success.
Want to learn more about deferring capital gains taxes on the sale of investment real estate? Reach out to a qualified intermediary today to walk you through the process. The earlier you get started on your 1031 exchange, the better. Making all the necessary preparations can help ensure that your exchange goes smoothly and that you defer 100% of your gains. At CPEC1031, LLC we have two decades of experience working on like-kind exchanges of real property. Contact us to see if your property qualifies for 1031 exchange treatment.
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.
© 2023 Copyright Jeffrey R. Peterson All Rights Reserved
If you are interested in pursuing a 1031 exchange, the first thing you need to do is to make sure your property qualifies for 1031 exchange treatment. In this article, we are going to offer up three ways you can qualify your 1031 exchange property to make sure it can be utilized in a like-kind exchange.
The only property that qualifies for 1031 exchange treatment is like-kind real estate. All types of personal property are disqualified from 1031 exchange treatment. The good news is that most real estate is like-kind to most other types of real estate.
The next thing you need to consider is how you are holding your property. Is your property held primarily for personal use (like your primary home)? If so, it does not qualify for 1031.
If your real property is held for investment use or for use in your trade or business, then it meets the basic criteria for 1031 exchange treatment.
At CPEC1031, LLC we focus entirely on 1031 exchanges of investment property throughout the United States. Whether you’re selling an apartment complex, retail space, or some other type of investment real estate, you may be able to defer your capital gains taxes with a like-kind exchange. Let our qualified intermediaries facilitate your exchange. We have more than twenty years of experience in the 1031 exchange industry. Give us a call today at our downtown Minneapolis office to learn about the full range of our exchange services.
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.
© 2023 Copyright Jeffrey R. Peterson All Rights Reserved
