investments: When Do I Need to Set Up a 1031 Exchange? - 12/27/10 05:19 PM
The simple answer is before the relinquished property ("old investment property") is transferred. This seems very basic; however, it is misunderstood by many investors. Many people think a 1031 exchange is just a special account that can be set up after they have transferred their old investment property.  However, to be entitled to defer capital gains under section 1031 of the Internal Revenue Code an "exchange" must be established.
To create an exchange using a Qualified Intermediary ("QI"), the taxpayer must enter into an Exchange Agreement with a QI and that QI must be assigned into the contract for sale of … (0 comments)

 
Teriactive Rainmaker_large

Teri McCarthy, ABR, CRS, ePRO, RSPS

Jackson Hole, WY

More about me…

Jackson Hole Properties

Address: 180 N. Center St #11, PO Box 4459, Jackson, WY, 83001

Cell Phone: (307) 690-6906

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog