About Sean M. Ross

Sean is the current Director of 1031x. He also contributes to outside publications, including Intuit–Quickbooks®, InsideTheNation.com, and Investopedia. Previously, he worked as a financial advisor, consultant, ghostwriter, and finance journalist. Sean is the former editor-in-chief at Financial Poise™. He was a past contributor to Business.com and Axial Network. Sean's work has reached audiences in the United States, the U.K., Canada, and Australia.

1031 Interview: Lauryn Dempsey

By |2020-04-17T15:59:35-06:00April 17th, 2020|Current News, Real Estate|

  Needless to say, the COVID-19 pandemic came out of nowhere and left an economy reeling in its wake. The effect on real estate is profound, but not necessarily crippling.  In this interview, 1031x director Sean Ross speaks with Denver realtor Lauryn Dempsey, who Outlines an “on-the-ground” perspective on every-changing news and regulations Explains

1031 Exchange Tax Reporting — How to File?

By |2020-05-05T10:16:24-06:00January 28th, 2020|1031 Basics, Tax Tips|

This is your simple guide to 1031 exchange tax reporting. Nobody enjoys paying their taxes. While we can't make it fun for you, we can at least help your 1031 exchange tax reporting make more sense. In this post, you'll learn 5 important things: When to report your 1031 exchange Which forms you need (especially

1031 Exchange vs Opportunity Zones. Which is better for you?

By |2020-02-20T16:18:07-07:00October 10th, 2019|Current News, Tax Tips|

Comparing the Pros and Cons of Opportunity Zones and 1031 Exchange   After the Trump administration signed into law the Tax Cuts and Jobs Act of 2017, America's real estate community was abuzz over the provision allowing for Qualified Opportunity Zone investments.  In particular, the 1031 exchange community took notice. This is because Opportunity Zones

Like Kind Exchange — Examples of “Boot”

By |2019-09-10T23:04:51-06:00August 25th, 2019|1031 Exchanges|

It’s not uncommon to throw around terms like “cash boot” or “mortgage boot” in a 1031 like-kind exchange. But what exactly is “boot”? You won’t find that word in the Internal Revenue Code (IRC). It does not appear in the Treasury Regulations. Here, “boot” means value “given in addition to.” The term is common

An Introduction to Tax Basis & 1031 Exchange

By |2019-09-10T23:49:55-06:00July 25th, 2019|1031 Basics, Investment Strategies, Tax Tips|

  Need a quick refresher on how 1031 exchange affects tax basis in your property? Or maybe you need a reminder about exactly what tax basis means? We'll cover the basics in this post and provide you a few examples. What is Tax Basis? Tax basis is what the IRS uses to keep track of

Partnership Strategies in a 1031 Exchange

By |2019-10-11T10:38:52-06:00June 19th, 2019|1031 Basics, Real Estate, Tax Tips|

 - What to do when some partners want to do a 1031 exchange, but others don't -   A frequent call to our company goes like this: “Five of us own an LLC. The LLC, in turn, owns a piece of real estate held for investment. It has a substantial gain in the property and

4 Better Strategies for Owner Carry Financing

By |2019-09-10T23:43:14-06:00June 10th, 2019|Investment Strategies|

Owner Carry Financing in a 1031 Exchange - Installment Sales under IRC Section 453 - Investors often ask us if owner carried financing (installment sales under IRC section 453) and a 1031 exchange (IRC section 1031) work together in the same transaction. While possible, it can be tricky adding owner carry financing to a tax-deferred

How to Replace Debt in a 1031 Exchange

By |2019-09-10T23:42:00-06:00May 1st, 2019|1031 Basics|

1031 Debt Replacement- You Don't Always Need New Debt   It’s common to read that 1031 exchangers need to “replace their debt” from their relinquished property by taking out new debt on their replacement property. This is sometimes referred to as the “equal or greater debt” rule. However, this isn’t necessarily true. The IRS doesn’t

Single Member LLCs as Tenants in Common

By |2019-09-10T23:37:50-06:00January 15th, 2019|Investment Strategies, Real Estate, Tax Tips|

- Why Tenants in Common (TIC) structure is advantageous for 1031 exchange investors -     The limited liability company (LLC) is a relatively young creature created by State statutes. By contrast, the concept of owning an asset as "tenants in common" (TIC) is centuries-old, much of it dating back to English law. In a