1031 Exchanges and Your Tax Advisor

By
Services for Real Estate Pros with Malbur Exchange Group & Assoc.
Another thought regarding the 1031 exchange process; make sure to involve your CPA or tax advisor from the beginning.  Your current advisor will not only provide the information the qualified intermediary will need for a successful exchange, they will be able to tell if the intermediary is truly "qualified" to do the job right.

Comments (3)

Jason Vombaur
Keller Williams - Vancouver, WA
I am dealing with a 1031 exchange now.  You have to make sure they talk to a CPA and 1031 exchange company.  That is their speciality not my.  I am here to sell the house.
May 15, 2007 05:28 AM
Steve Chacon
Malbur Exchange Group & Assoc. - Denver, CO

That's absolutely correct Jason, always strongly recommend that the client talk to both the Intermediary (QI) and a trusted tax advisor.  Even with my background in taxation, I will not get involved in their overall tax picture. In fact, I am forbidden from doing so.  The Realtor, the Intermediary and the Tax Advisor are all very important and have distinct responsibilities in a successful 1031 transaction.  If we blurr the lines between those responsibilities we can expose ourselves legally.

 Thanks for the comment!

May 15, 2007 05:45 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  We invite you back to ActiveRain in 2017. 

  We would welcome your return!

Sep 15, 2017 06:23 PM