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Making Sense of Those Property Exchanges – Explanations
On paper, relying on the Internal Revenue Code (IRC) section 1031 to defer capital gain taxes on a real estate sale seems straightforward. You target the replacement property within 45 days, then close on that property within 180 days. Your Qualified Intermediary handles the exchange, resulting in a new property and a sweet tax deferral.
Benefits and Risks of Fractional 1031 Investments
*Update February 2019: Realized has established its Secondary Market and has completed its first Secondary Market transaction. Fractional 1031 investments are subject to the same benefits and risks as other real estate investments. However, the structure of fractional 1031 investments have their own unique characteristics.
Six Strategies For A Smooth 1031 Exchange
In a previous blog, we noted that 1031 Exchange rules can be challenging. That article focused on three Internal Revenue Service (IRS) rules when it came to identifying the replacement property or properties for a successful exchange.
‘Tis the Season - For Installment Sales
The upcoming holiday season can be a time of joy, with family, friends and celebration. The holiday season can also be a time of stress, with tangled lights to untangle and hang, gifts to shop for and wrap, and parties to plan.
In a 1031 Exchange? You May Need to File a Tax Extension
Are you currently in a 1031 exchange or contemplating beginning an exchange before the end of the year? If you sold or are planning to sell investment property between October 17, 2017 and December 31, 2017, you should plan on filing IRS Form 4868 - Application for Automatic Extension of Time to File U.S. Individual Income Tax Return on or before April 15, 2018.
Tax Reform / 1031 Exchange Update - November 7, 2017
Last week, House Republicans released H.R. 1, their long-awaited 429-page tax reform proposal. The bill, which is titled the ‘Tax Cuts and Jobs Act (“TCJA”) leaves 1031 “like-kind” exchanges intact!
Your Vacation Home and the 1031 Exchange
Consider the following. You own a lakeside vacation home. Over the years, that home has been a great place for family gatherings, and to hang out on weekends. Now, the family is grown and you are ready to dispose of the property, hopefully without paying a boatload of capital gain taxes.
Constructive Receipt Of Funds: A 1031 No-No
We’ve written extensively on how you can take advantage of the Internal Revenue Code’s Section 1031 to defer tax liability on relinquishing property. We’ve also noted that the time period in which you can find a like-kind asset, and then buy it, is strict. If you miss the 45-day deadline (in which to identify a replacement asset) and the 180-day window (during which you must close on that replacement asset), the exchange might no longer be valid, and you end up owing taxes.
Disasters and 1031 Exchanges (Part 1)
August and September 2017 have been highlighted by a series of catastrophic storms. Hurricane Harvey roared ashore in South Texas, then parked on top of the Houston area, dumping more than 50 inches of rain in some areas. And, as of this writing, we are just beginning to assess the damage caused by Hurricane Irma.
The Securitized 1031 Exchange Market: A 10-Year Retrospective
More than 10 years ago, the securitized 1031 Exchange market (real estate interests that are packaged and sold as securities and that qualify for 1031 exchange purposes) was dominated by tenant-in-common (TIC) Sponsors. TIC investments grew at a frantic pace from the start of the new millennium, increasing in volume from under $500 million of annual equity raised in 2002 to over $3.6 billion annually by 20061.
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