1031 exchange:
Exchanges Sanctioned by the IRS
Add YOUR Info to Newsletter  |
On September 15, 2000 the IRS issued guidance and recognition for Reverse Exchanges.
Rev. Proc 2000-37.
Here is a summary:
- Title to the replacement property will be held by a Qualified Intermediary (QI) or another legal entity controlled by the QI.
- There must be a "Qualified Exchange Accommodation Agreement" proving that the Replacement Property is part of a Section 1031 and Rev. Proc. 2000-37 exchange.
- The Qualified Intermediary must file a tax return reporting the purchase and sale of the Replacement Property.
- Within 45 days of the purchase of the Replacement Property, the taxpayer must identify the Relinquished Property.
- Within 180 days of the purchase of the Replacement Property the Relinquished Property must be transferred to a third person and the Replacement Property must be transferred to the taxpayer.
- Taxpayer may indemnify the Qualified Intermediary against loss.
- Taxpayer may guarantee borrowing to acquire Replacement Property.
- Taxpayer may lease Replacement Property from QI until transfer to taxpayer.
- Taxpayer can act as construction manager for improvements on Replacement Property.
Contact us at 1031x.com to handle your Reverse Exchange.
FAQs
Capital Gains Tax Example An example of how capital gains is estimated in a ...Read More
Can I exchange a business--UPS Store Example It is possible to exchange a business-but there ar ...Read More
Capital Gains State Tax Rates Find the Capital Gains Tax Rate for your state! ...Read More
How Often can I take Advantage of the Tax Exclusion Under IRC section 121? 121 tax exclusion ...Read More
200 Percent Identification Rule What if the property value increases? Is the ID v ...Read More
Subdividing question Can I subdivide? ...Read More
Tax Free Cash How can I take cash out? ...Read More
Capital Gains Exclusion??? Mixing up Section 121 and Section 1031 ...Read More
More on Capital Gains Question about Capital Gains. ...Read More
Taking Cash Out of a 1031 exchange What about taking cash out of a 1031 exchange? ...Read More
Accumulated Depreciation How do I handle depreciation? ...Read More
Lease Options How do I handle rent money? ...Read More
Dual Use of Property Primary residence and? ...Read More
Toll Free: 1-888-899-1031
Latest Newsletters
Oil and Gas investors are exchanging into undervalued real estate... Read More
Freeing up cash before closing is often invaluable... Read More
Don't lose out on the opportunity to save thousands of dollars in taxes... Read More
Top 10 Ways to Legally Avoid Paying Taxes.
Sometimes our lamentable sense of humor gets the better of us... Read More
1031 Exchange Alternative: Oil and Gas Investments.
Certainly the most common exchange we facilitate is real estate for real estate. Did you know the definition of "real property" includes mineral/oil and gas rights? Read More
Category
- Cash from exchange!
- My state tax rate
- Tax Estimator
- 1031 Exchange Summary
- 1031 History
- FORM 8824 Help
- Client FAQs
- Newsletters
- Exchange Types
- Exchange Fees
- About Us
- Affiliate Program
- Join Our Network
- Newsletter Sign-up
- Contact Us
- Newest Pages
- Dual Use of Property
- Three Tax Strategies to Maximize Tax Savings
- Online help for completing IRS Form 8824
- Principal Residence Considerations
- Lease Options
- Accumulated Depreciation
- Taking Cash Out of a 1031 exchange
- More on Capital Gains
- Capital Gains Exclusion???
- Exchange Basics
- Increasing Basis
- Tax Free Cash
- Subdividing question
- 200 Percent Identification Rule
- How Often can I take Advantage of the Tax Exclusion Under IRC section 121?
- Capital Gains State Tax Rates
- RELATED PARTY 1031 EXCHANGES FULL OF SUBTLETIES
- Extend 1031 Exchange Deadlines
- One Spouse or Two
- Capital Gains Tax Example
- FunTaxGear.com
- Site Map