Posted by permission of the author: Christopher Nolt, LUTCF Solid Rock Realty Advisors, LLC 2020 Charlotte Street, Suite 14 Bozeman, MT 59718 406-582-1265 Office 800-517-1031 Toll-Free 800-249-1033 Fax The IRC Section 1031 Exchange is one of the most powerful tax saving and wealth building tools available for people selling highly appreciated real estate. A properly structured 1031 exchange […]
Real estate investors who buy & sell from related parties often get blind sided by related party rules when using Section 1031.
At first glance, this sounds like mixing business with pleasure but it’s really not that far fetched! The traditional method to help the kids acquire a home would be to provide a gift or a loan that can be forgiven or repaid over time. The new gift limitation is $14,000 per person, per year. A […]
The top reason to conduct the sale of investment property as a Section 1031 Exchange is the dramatic opportunity for wealth building. Whether the property is owned by an individual, trust, LLC, S-corp or C- corp, utilizing untaxed dollars to acquire more significant investment property and generate greater cash flow from investment property is the […]
You just gotta love technology. The ability to cover a topic like 1031 quickly and efficiently is just amazing. But for goodness sakes. I wish that I could press a button and blast this message out to the whole world with one click…to all the investors, real estate brokers, accountants, lawyers. I got another phone […]
What every real estate investor wants to know is “How can I make Section 1031 work for me? Isn’t that just for investors who have multimillion-dollar properties?” And, the best question of all; “I want to sell my property and I don’t want to manage real estate again, how can I have my cake and eat […]
Owners of investment and business property considering the sale and reinvestment of their real property have choices that are far greater than their own neighborhood. Section 1031 Exchanges require that the new or replacement property be “like-kind” but that definition has expanded to include diverse investments; here are three examples of replacement property opportunities: Tenant-in-common […]
Our client was under agreement to sell his commercial property when a fire broke out and destroyed one of the two buildings on the property. After carefully renegotiating the agreement, he proceeded with a Section 1031 Exchange for the land and existing building and used Section 1033 for the casualty loss portion of his property. […]
This is an area that many people disregard only to be rudely awakened at tax time, well after their transaction is old and cold. Prior home office deductions including depreciation can return to create a tax obligation unless the business portion of the property is handled as a Section 1031 Exchange. Operating a home office […]
Meeting the identification deadline can be challenging. It’s imperative that you submit your list of replacement property choices within 45 days of your sale and that they be acquired within 180 days, or the due date of your tax return. Here is a quick guide for your reference: Must be within the United States, the […]
