In general, a gain or loss realized on the sale or disposition of property must be recognized for tax purposes per IRC §1001. Thanks to IRC §1031, a properly structured exchange allows an investor to sell a property, to reinvest the proceeds in a new property and to defer capital gain taxes. Exchanges protect investors from capital gain taxes as well as facilitating significant portfolio growth and an increased return on investment.
Title Mark Exchange, LLC with your tax professional, can help you determine:
- What property tax is exchangeable
- Do's and don'ts of deferred exchanges
- The "how to" rules of deferred exchanges
- Related parties and deferred exchanges
- Tax consequences of deferred exchanges
We recommend you use the service of your appropriate tax professional early in the transaction. We can be a strong member of your professional team on §1031 transactions.
To gain the full potential of the §1031 Exchange benefit, contact Brad Solheim at 952-442-7766 via e-mail at firstname.lastname@example.org