How to do a 1031 Exchange12/14/2017 (Updated 06/06/2018)
We can refer you to an experienced agent that will help you do a 1031 Exchange!
A 1031 exchange allows you to defer paying capital gains taxes when you sell your rental property, if you buy another property to replace it. Also, your surviving spouse, children, or inheritors will not pay any capital gains taxes if they sell the replacement property when you pass away!*
What most people don’t know is that the replacement property can be ANY income producing property. You can also buy multiple properties and properties in any state! The options are endless and a 1031 exchange can be the perfect tool for diversifying or adjusting your portfolio to fit you current strategies, goals and lifestyle.
A 1031 Exchange also has the benefit of re-starting your depreciation schedule with the IRS!
Some properties that would qualify for a 1031 Exchange
You can exchange any one for another. Mix and match them however you like!
- Apartment buildings
- Rental homes
- Office buildings
- Medical buildings
- Industrial buildings
- Mechanic’s garages
- Gas stations
- Retail stores
- & More!
*Please keep in mind, a 1031 exchange can have many complexities and may not always be successful. There are a lot of IRS rules and strict timelines that MUST strictly be followed to get the benefits we described.
That is why having a real estate agent that understands the challenges is crucial.
We will refer you to an agent that will work with you and a 1031 exchange accommodator to try and ensure that the 1031 exchange is successful and you can defer capital gains. If you are buying and selling in different states, you will need to have more than one agent.
Kozeee! will match you with an experienced agent, or agents, wherever you need to buy and sell to do your 1031 exchange.