1031 qualified intermediary: 1031 Exchanges - Don't Miss These Posts On Development Rights - 05/05/08 04:07 PM
Exchanging Development Rights
I posted these during a low traffic period this morning. I've been checking on the stats and it looks like they were largely missed. Click here for Post 1 of 2 "Definition of Development Rights" and click here for Post 2 of 2 for the "IRS's Analysis of Transferable Development … (2 comments)
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1031 qualified intermediary: 1031 Exchanges - Development Rights - Post 2 of 2 - 05/05/08 01:19 PM
How the IRS Analyzes Whether Transferable Development Rights are Like-Kind
In my previous Post 1 of 2 that addressed the definition of Transferable Development Rights ("TDR") we saw that the IRS, in a PLR* determined that they were like-kind to a fee simple. Below, we will look at the analysis and reasoning the … (2 comments)
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1031 qualified intermediary: 1031 Exchanges - Development Rights - Post 1 of 2 - 05/05/08 01:04 PM
Several weeks ago in my blog I discussed different types of property that may or may not qualify as like-kind including leaseholds, oil, gas and mineral rights, water rights, REITS and Timeshares, and easements. In this post we will examine the definition of development rights and in Post 2 we will examine … (4 comments)
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1031 qualified intermediary: 1031 Exchanges - To Exchange or Not to Exchange? That is the question. POST #2 - 04/17/08 12:55 PM
REASONS NOT TO DO AN EXCHANGE
In the previous post we reviewed why an exchange may still be necessary to defer capital gain taxes even if the value of the investment property has declined. Now we will look at reasons some tax advisors may suggest that their clients NOT DO AN EXCHANGE. … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - Know Your QI - Post #2 - 04/17/08 01:29 AM
WHAT DO YOUR QI's CUSTOMERS SAY?
Asset Preservation, Inc. (API) is committed to providing everyone with our top notch customer service. Whether a first time exchanger, repeat client or a large national account, API strives to provide fast, knowledgeable and friendly customer service throughout the entire exchange process. It is rewarding to hear what … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - Time Well Spent? - 04/16/08 01:58 PM
AVERAGE AMERICANS SPENT 26.5 HOURS PREPARING TAXES
It took the average American more than 26.5 hours to prepare their taxes this year. This is an increase from 25.4 hours three years ago. It costs Americans an average of $207 to prepare their taxes, up from $185 three years ago. For more information, … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - Intro to Delayed Exchanges - 04/11/08 12:43 AM
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1031 qualified intermediary: 1031 Exchanges - Vacation Homes Prior 2008 Guidance - 04/10/08 11:50 PM
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1031 qualified intermediary: 1031 Exchanges - Vacation Homes New Safe Harbor - 04/10/08 11:46 PM
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1031 qualified intermediary: 1031 Exchanges - DRE Accredited Seminar Analyzing Investment Property - 04/10/08 10:55 PM
1st STEP - EDUCATION
FREE POWER OF INVESTMENT ANALYSIS SEMINAR
The falling property prices have brought the investors out of the woodwork! First time homebuyers and investors are the best sources of business in today's market. If you are wanting to develop and investor niche, this seminar is your first step. You … (2 comments)
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1031 qualified intermediary: 1031 Exchanges - Free DRE Accredited Investment Analysis Seminar - 04/10/08 10:46 PM
LEARN HOW TO ANALYZE SMALL INVESTMENT PROPERTIES
Falling prices encourage investors TO BUY!!!! This is the first step in developing your investor niche. Learn how to analyze small investment properties from a before tax and after tax cash flow basis. You will learn how to evaluate the investment value of an investment … (2 comments)
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1031 qualified intermediary: 1031 Exchanges - Holding Period Issues - 04/08/08 07:30 PM
DEFINITION OF LIKE KIND PROPERTY
"HOLDING PERIOD" ISSUES
IRC section 1031 states that property "held for productive use in a trade or business or for investment" must be exchanged for like-kind property. A frequently asked question is, "Exactly how lod does a property need to be held to be considered an investment property … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Intent Matters! - 04/08/08 06:52 PM
Substantiating Investment Intent
The 1031 Code Section
Real Estate held as "stock in trade or other property held primarily for sale" is excluded from the tax benefits of IRC section 1031. Stock in trade describes property which is excluded in the inventory of a dealer ("dealer property") and is held for resale to … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - You Get What You Pay For! - 04/04/08 11:17 AM
Shopping Your QI For Price
YOU GET WHAT YOU PAY FOR
One of the most frustrating aspects of any business that prides itself on exemplary service, exceptional execution and meticulous attention to detail, is the price shopper.
Word to the wise, most reputable QI's charges for a delayed exchange start at $700 (it should … (3 comments)
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1031 qualified intermediary: 1031 Exchanges - Are You Sure? Post #1 - 04/02/08 01:09 PM
Are You Sure You Understand 1031 Exchanges?
Commonly Misunderstood Issues in Real Property 1031 Exchanges*
1. Like-Kind Property MYTH: In order for replacement property to be considered like-kind it must be exactly the same type of property as the relinquished property i.e. commercial for commercial, condo for condo, duplex for duplex, bare land … (2 comments)
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1031 qualified intermediary: 1031 Exchanges - What's in Your Toolbox? - 04/01/08 09:20 PM
More Tools You Can Use
Have you ever had a client who had a lot of questions about 1031 exchanges? You've been a busy agent marketing and showing properties, so it's been a while since you've been to a 1031 exchange seminar and some of the details are a bit fuzzy. You … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- FREE ACCREDITED 1031 Advanced Seminar in Fresno - 03/25/08 12:18 AM
I will be offering a free 3-hour accredited seminar for commercial brokers, attorneys, accountants and experienced residential agents. There are still some spaces available.
Advanced 1031 Exchange Seminar at the Fresno Association of Realtors located at 6720 N. West Ave, Fresno, CA.
Time: 12:30 - 3:30
Email: LisaL@apiexchange.com with your name, company and phone number … (6 comments)
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1031 qualified intermediary: 1031 Exchanges - Vesting Issues #2 - 03/24/08 11:39 PM
This information is provided for educational purposes only. It should not be construed as tax and/or legal advice. Individuals should consult their personal tax and legal advisors regarding the specific circumstances of their individual exchanges.
For more information, please call (877) 646-1031 or email me at LisaL@apiexchange.com or national headquarters (800) 282-1031 … (2 comments)
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1031 qualified intermediary: 1031 Exchanges - Vesting Issues - 03/24/08 11:37 PM
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1031 qualified intermediary: 1031 Exchanges - Restrictions on Exchange Proceeds - 1031(g)(6) - 03/24/08 02:14 PM
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1031 qualified intermediary: 1031 Exchanges - Partial Exchanges Are VALID - 03/24/08 02:10 PM
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1031 qualified intermediary: 1031 Exchanges - Rental to Residence Conversion - 5 Yr Holding Period - 03/24/08 02:00 PM
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1031 qualified intermediary: 1031 Exchanges - Split Treatment Transactions - Sections 121 and 1031 - 03/24/08 01:48 PM
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1031 qualified intermediary: 1031 Exchanges - Converting a Rental to a Residence - 03/24/08 01:41 PM
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1031 qualified intermediary: 1031 Exchanges - Converting a Residence to a Rental - 03/24/08 01:35 PM
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1031 qualified intermediary: 1031 Exchanges - Like Kind Continued - Easements - 03/21/08 02:57 PM
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1031 qualified intermediary: 1031 Exchanges - Like Kind Continued - Timeshares & REITs - 03/21/08 02:54 PM
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1031 qualified intermediary: 1031 Exchanges - Like Kind Continued - Location, Location, Location! - 03/21/08 02:49 PM
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1031 qualified intermediary: 1031 Exchanges - Like Kind Continued - Water Rights - 03/21/08 02:39 PM
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1031 qualified intermediary: 1031 Exchanges - Like Kind Continued - Oil, Gas & Minerals - 03/21/08 02:30 PM
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1031 qualified intermediary: 1031 Exchanges - Like Kind Continued - Leasehold Interests - 03/21/08 02:27 PM
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1031 qualified intermediary: 1031 Exchanges - How Long Must I Hold the Property For It To Qualify as "Investment" - 03/20/08 06:03 PM
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1031 qualified intermediary: 1031 Exchanges - Personal Property Exchanges - "Planes, Trains & Automobiles" - 03/20/08 05:54 PM
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1031 qualified intermediary: 1031 Exchanges - 1031 Exclusions "Property Held for Resale" - 03/20/08 05:50 PM
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1031 qualified intermediary: 1031 Exchanges -- Definition of Like Kind Property - 03/20/08 05:47 PM
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1031 qualified intermediary: 1031 Exchanges -- Post #2 IRC Section 1031 - THE CODE EXPLAINED - 03/13/08 07:22 PM
In the last post we actually reviewed the text of IRC Section 1031. In this post we will look at what the provisions of the section mean. We will be looking at the title line first.
Remember, this is for educational purposes only. Any specific circumstances regarding an individual exchange should … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - BEWARE - Is Your Qualified Intermediary Giving You Tax or Legal Advice? - 03/12/08 09:19 PM
It is important to understand that Qualified Intermediaries "QI" are specifically disqualified under the tax code from giving taxpayers tax and legal advice regarding their potential exchange transaction.
So What Constitutes Tax or Legal Advice?
Any time an agent or a QI tells a client they should or should not do an exchange could be … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - Important Questions to Ask RE: Security of Funds - 03/12/08 08:55 PM
It's important to understand that currently the Qualified Intermediary "QI" industry is unregulated in most states. I have compiled some important subject areas you should explore when considering using a particular QI. It is critical that you ask the HARD questions of the business who is going to be holding your client's … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- NEW CALIFORNIA DRE Requirements for Accredited Seminars - 03/11/08 07:38 PM
The California DRE has issued new requirements for real estate agents to receive qualifying continuing education credit.
1. Attendees must present valid identification immediately before admittance to a live presentation, or immediately before the administration of the final examination. Valid forms of identification include the following:
a. A Valid California driver's license.
b. A Current … (2 comments)
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1031 qualified intermediary: 1031 Exchanges -- NEW VACATION HOME UPDATE - Rev. Proc. 2008-16 Safe Harbor - 02/21/08 01:38 PM
Revenue Procedure 2008-16 (the "Procedure") creates a safe harbor definition of investment property applicable to exchange transactions closing after March 10, 2008 that involve the transfer of property consisting of a dwelling unit (defined below) and/or the acquisition of a dwelling unit as replacement property. In short, the IRS will not … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - Partial Exchanges - 02/20/08 12:04 AM
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1031 qualified intermediary: 1031 Exchanges - Balancing the Exchange for Full Deferral - 02/19/08 11:57 PM
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1031 qualified intermediary: 1031 Exchanges - Determining the Value of Property - 02/15/08 04:55 PM
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1031 qualified intermediary: 1031 Exchanges -- Building Your Team - POST #1 in a series - 02/13/08 12:18 PM
It behooves you to begin building a team who understands 1031 exchanges whether you are an agent or an investor. Although, the basic principles of an IRC 1031 Exchange are fairly straightforward, each sale of relinquished property and purchase of replacement contains a variety of issues that must be analyzed by … (2 comments)
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1031 qualified intermediary: 1031 Exchanges -- 1031 WEBINAR - Learn the Basics Fast - 02/13/08 11:47 AM
Agents Knowledgeable In IRC Section 1031 Exchanges Make More Money
As an agent are you looking for a way to increase the volume of your sales?
By learning and understanding the tax deferral mechanisms under section 1031, you can increase your income because the investor selling the relinquished property you listed will need assistance in … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - How Long to Hold - Qualified Use Test - 02/12/08 08:28 PM
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1031 qualified intermediary: 1031 Exchanges - Requirements for Full Deferral - 02/12/08 08:18 PM
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1031 qualified intermediary: 1031 Exchanges -- FREE WEBINAR - Learn About 1031 Exchanges Today - 02/12/08 06:15 PM
Have you heard about 1031 exchanges but you don't know exactly what is involved?
If you're a real estate agent, understanding 1031 exchanges can increase your income.
Section 1031 of the Internal Revenue Code permits sellers of appreciated investment property (as defined by the code) to defer recognition of the capital gain tax they would … (0 comments)
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1031 qualified intermediary: 1031 Exchanges - Security of Funds - KNOW YOUR QI - 02/12/08 05:16 PM
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1031 qualified intermediary: 1031 Exchanges -- Security of Funds -- CRITICAL!!!! - 02/12/08 05:15 PM
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1031 qualified intermediary: 1031 Exchanges - Security of Funds - KNOW YOUR QI - 02/12/08 04:45 PM
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1031 qualified intermediary: 1031 Exchanges -- Security of Funds -- CRITICAL!!!! - 02/11/08 08:57 PM
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1031 qualified intermediary: 1031 Exchanges -- How Closing Costs Are Treated -- POST #2 - 02/11/08 08:46 PM
*****The information provided is for educational purposes only. It is not legal or tax advice. Accordingly, the taxpayer should review the details of the specific transaction with taxpayer's own legal or tax advisor*******.
This post is in response to one of the comments on the first Closing Cost Post #1. There are some clarifications and expansions.
Remember, the only … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- How Closing Costs Are handled - 02/11/08 08:37 PM
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1031 qualified intermediary: 1031 Exchanges -- How Closing Costs Are Treated - 02/04/08 06:14 PM
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1031 qualified intermediary: 1031 Exchanges -- Basics and Choosing a Qualified Intermediary - 02/04/08 06:08 PM
The Internal Revenue Code's section 1031 permits owners of appreciated investment property to defer the capital gain tax due on the sale of the relinquished property (conceptually the "old property") by completing the purchase of replacement property (conceptually the "new property") within 180 days of the sale of the relinquished property. In legal … (0 comments)
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1031 qualified intermediary: 1031 Exchanges v. 1033 Exchanges -- Involuntary Conversions - 02/04/08 09:34 AM
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1031 qualified intermediary: 1031 Exchanges - Options for Selling Appreciated Property - 02/04/08 09:27 AM
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1031 qualified intermediary: 1031 Exchanges -- Partnerships - 02/04/08 09:26 AM
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1031 qualified intermediary: 1031 Exchanges -- Seller Financing/Structured Sales - 02/04/08 09:24 AM
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1031 qualified intermediary: 1031 Exchanges v. 1033 Exchanges -- Involuntary Conversions - 02/04/08 08:48 AM
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1031 qualified intermediary: 1031 Exchanges -- Partnerships - 02/04/08 08:43 AM
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1031 qualified intermediary: 1031 Exchanges - Options for Selling Appreciated Property - 02/04/08 08:34 AM
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1031 qualified intermediary: 1031 Exchanges -- Handling Earnest Money Deposits In An Exchange - 02/04/08 08:30 AM
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1031 qualified intermediary: 1031 Exchanges -- What is a Section 721 UPREIT? - 02/04/08 08:27 AM
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1031 qualified intermediary: 1031 Exchanges -- Seller Financing/Structured Sales - 02/04/08 08:26 AM
The information provided is for educational purposes only. It is not legal or tax advice. Accordingly, the taxpayer should review the details of the specific transaction with taxpayer's own legal or tax advisor.
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1031 qualified intermediary: 1031 Exchanges -- Seller Financing/Structured Sales - 02/04/08 08:23 AM
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1031 qualified intermediary: 1031 Exchanges -- What is a Section 721 UPREIT? - 02/04/08 08:21 AM
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1031 qualified intermediary: 1031 Exchanges -- Reverse Exchanges - 02/03/08 04:31 PM
REVERSE EXCHANGE BENEFITS
Revenue Procedure 2000-37 ("Rev. Proc. 2000-37"), provides guidelines for the taxpayer to acquire the replacement property before the sale of the relinquished property is completed. The reverse exchange can be the ideal solution if the taxpayer cannot delay the closing of the replacement property. The reverse exchange helps investors … (2 comments)
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1031 qualified intermediary: 1031 Exchange WEBINAR - Get your questions answered NOW!! - 02/02/08 09:34 PM
For a comprehensive webinar that takes you through the basics of 1031 exchanges and their permutations check out this link
In addition you can call 1.800.282.1031 to speak to an experienced senior 1031 exchange counselor or call me directly at (559) 433-5399.
http://apiexchange.com/index_main.php?id=25
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1031 qualified intermediary: 1031 Exchange WEBINAR - Get your questions answered NOW!! - 02/02/08 08:57 PM
The link below will take you to a webinar that covers all of the basics in a 1031 exchange. It answers all of your critical questions.
In addition, you can call 1-800-282-1031 for an in-person consultation with an experienced 1031 exchange counselor.
Or, contact me at (559) 433-5399
http://apiexchange.com/index_main.php?id=25
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1031 qualified intermediary: 1031 Exchanges -- 1031's & Vacation Homes - 02/02/08 08:08 PM
Taxpayers use Internal Revenue Code (IRC) §1031 tax deferred exchanges to defer paying capital gain taxes on the sale of property held for investment or used in a trade or business. Many tax and legal advisors believe it is possible to perform an exchange on a vacation property, provided the personal … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- 45 Day Identification Period - 02/02/08 07:58 PM
SECTION 1.1031(k)-1
Section 1.1031(k)-1: Treatment of Deferred Exchanges states that "the identification period begins on the date the taxpayer transfers relinquished property and ends at midnight on the 45th day thereafter." Later in this subsection, the manner of identifying replacement property is specifically stated as: "Replacement property is identified only if it … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Identification Rules - 02/02/08 07:52 PM
IDENTIFICATION RULES
The identification period in a delayed exchange begins on the date the Exchanger transfers the relinquished property and ends at midnight on the 45th calendar day thereafter. To qualify for a §1031 tax deferred exchange, the tax code requires identifying replacement property:
· In a written document signed by the Exchanger;
· Hand … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Farms & Ranches - 02/02/08 07:46 PM
ONE SALE - TWICE THE TAX BREAKS!
Sellers of farms and ranches are able to take advantage of two different tax code sections to minimize capital gain tax liabilities. By utilizing all the opportunities available in the tax code, many ranch and farm owners can meet their investment objectives and defer capital … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Reasons to Exchange - 02/02/08 07:40 PM
Section 1031 tax deferred exchanges continue to increase in popularity as more investors nationwide discover the wide range of investment objectives that can be easily met through exchanging.
I. PRESERVATION OF EQUITY
A properly structured exchange provides real estate investors with the opportunity to defer 100% of both Federal and State capital gain … (2 comments)
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1031 qualified intermediary: 1031 Exchanges -- Basics - 02/02/08 07:36 PM
WHAT IS IRC SECTION 1031?
Section 1031 of the Internal Revenue Code allows an owner of investment property to exchange property and defer paying federal and state capital gain taxes (up to 15% Federal, 25% depreciation recapture and applicable state taxes) if they purchase a "like-kind" property following the rules and regulations … (8 comments)
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1031 qualified intermediary: 1031 Exchanges -- Parking Arrangements - 02/02/08 05:43 PM
Key Portions of Rev. Proc. 2004-51 are Reflected Below
Section 4.01 of Rev. Proc. 2000-37 provides that the Internal Revenue Service will not challenge the qualification of property held in a QEAA "as either 'replacement property' or 'relinquished property' (as defined in § 1.1031(k)-1(a)) for purposes of § 1031 and the regulations … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Reverse Exchanges - 02/02/08 05:41 PM
REVERSE EXCHANGE BENEFITS
Revenue Procedure 2000-37 ("Rev. Proc. 2000-37"), provides guidelines for the taxpayer to acquire the replacement property before the sale of the relinquished property is completed. The reverse exchange can be the ideal solution if the taxpayer cannot delay the closing of the replacement property. The reverse exchange helps investors … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- More Basics - 02/02/08 05:25 PM
WHAT IS IRC SECTION 1031?
Section 1031 of the Internal Revenue Code allows an owner of investment property to exchange property and defer paying federal and state capital gain taxes (up to 15% Federal, 25% depreciation recapture and applicable state taxes) if they purchase a "like-kind" property following the rules and regulations … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Farms & Ranches - 02/02/08 05:16 PM
ONE SALE - TWICE THE TAX BREAKS!
Sellers of farms and ranches are able to take advantage of two different tax code sections to minimize capital gain tax liabilities. By utilizing all the opportunities available in the tax code, many ranch and farm owners can meet their investment objectives and defer capital … (2 comments)
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1031 qualified intermediary: 1031 Exchanges -- More on 1031's & Vacation Homes - The Case - 02/02/08 05:10 PM
Many sellers who own vacation homes want to explore the potential of performing an Internal Revenue Code (IRC) Section 1031 tax deferred exchange. See Asset Preservation's handout entitled, "Vacation Home Exchanges - Basics", for an introduction to issues involved in these types of exchanges. One Tax Court decision, Barry E. Moore … (0 comments)
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1031 qualified intermediary: UPDATE!!! CLARIFICATION on VACATION HOME 1031 EXCHANGES - 02/02/08 05:05 PM
Taxpayers use Internal Revenue Code (IRC) §1031 tax deferred exchanges to defer paying capital gain taxes on the sale of property held for investment or used in a trade or business. Many tax and legal advisors believe it is possible to perform an exchange on a vacation property, provided the personal … (0 comments)
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1031 qualified intermediary: 1031 Exchanges -- Basics - 02/02/08 04:21 PM
The Internal Revenue Code's section 1031 permits owners of appreciated investment property to defer the capital gain tax due on the sale of the relinquished property (conceptually the "old property") by completing the purchase of replacement property (conceptually the "new property") within 180 days of the sale of the relinquished property. In legal … (0 comments)
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