Defer Your Taxes with a 1031 Tax Exchange
Most common 1031 exchange scenario:
Geoff Stell
Denver, Colorado
Geoff is happy to help you with finding just the right investment property for your 1031 exchange.
Contact Geoff or
- Sign contract to sell your current property.
- Call 1031x.com. (Before closing)
- Sell old property (relinquished property); money wired to your 1031x.com account. Day One
- Identify up to three replacement properties you're considering and send signed list to 1031x.com, as required for a 1031 exchange. By Day 45.
- Buy one, two or all three replacement properties identified (total value exceeds value of old property) using money wired from your 1031 Exchange Account. By Day 180.
- File Form 8824 with your tax return. Your capital gain taxes are deferred!
This is what we term a "simple exchange." Of course, each exchange has it's own unique requirements. Simple or complex, forward or reverse, we enjoy helping our clients defer their taxes. Please give us a call 1-888-899-1031 to discuss your exchange, or email us at infox@1031x.com
1031 exchange:
Quick! I am ready to close!
Don't lose out on the opportunity to save thousands of dollars by doing a 1031 Exchange. Our team can handle 1031 Exchanges--even from the closing table.
So don't hesitate to call or use the form below to get your 1031 Exchange setup and preserve your opportunity for savings.
A Short Summary of 1031 Exchanges
In a 1031 exchange, the 1031 tax law (IRC section 1031) requires that capital gains NOT be recognized. Today, most investment real estate is transacted with a 1031 real estate exchange (aka 1031 exchange). In order to do a 1031 exchange, you must want to exchange investment real estate for other investment real estate. Although other tangible assets qualify for 1031 exchange, the most common 1031 exchange is the real estate exchange. The 1031 tax law which requires deferral of capital gains taxes on real estate exchanges also requires deferral of capital losses in a 1031 exchange. An investor should therefore avoid a 1031 exchange when recognition of capital loss is desired. The 1031 tax law has allowed for deferral of capital gains in real estate exchanges since the late 1930s, when this 1031 exchange tax law was first enacted. However, only since the famous Starker Case in 1970 have delayed 1031 real estate exchange allowed for the deferral of capital gains. In a delayed 1031 exchange, the 1031 real estate exchange involves the sale of the relinquished property to one person and the purchase of the replacement property from a different person within 180 days. Thetax law allows for the deferral of capital gains in this type of 1031 real estate exchange.
Our Profile
1031X.com, Inc. has been assisting our clients across the United States with their exchanges with Safety and Security since 1994. We are always happy to consult with you about your tax situation. Send us your questions!
Our Services
- 1031 Exchange Accomodator
- Oil & Gas Exchanges
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Client Stories
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