Mark Bullock, Esq.
Regional Attorney Manager, Mountain Region
Senior Vice President / Regional Attorney Manager
Cell: (801) 647-9668
Toll-Free: (877) 775-1031
Email: mark.bullock@ipx1031.com
Mark’s Bio
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Mark’s Bio
Mark Bullock is Regional Attorney Manager of IPX1031 Mountain Region. Mark is an attorney with 20 years of professional experience, including 16 years in the 1031 Exchange industry. As an expert of 1031 rules and 1031 regulations, Mark has served in multiple management capacities in the 1031 Exchange industry, and also enjoys working directly with clients on their 1031 Exchange transactions.
His expertise includes Simultaneous, Delayed, Reverse and Improvement Exchanges. Prior to joining IPX1031, Mark was manager and legal counsel in for a national 1031 intermediary, and also managed the company’s national Reverse Exchange group.
Additional Contact Information
Mountain Regional Office
170 South Main St Suite 1075, Salt Lake City, Utah 84101
Phone: (801) 315-5337
Toll-Free: (877) 775-1031
Fax: (801) 841-3537
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1031 Exchange FAQs
How can I determine if a 1031 is right for me?
My first and best suggestion is to work with your tax advisor to crunch the numbers – look at the amount you’d be paying in capital gains taxes if you were to forego an exchange. If that number isn’t something you’re willing or wanting to pay and you’d rather reinvest it in investment real estate, a 1031 Exchange may be your best path forward. I’ve never had an exchanger come back to tell me they wish they hadn’t done an exchange, but I sure have had plenty come back to say they wish they had!
What are the benefits of doing a Tax Deferred 1031 Exchange?
The gift of a 1031 Exchange is that one is able to defer paying what would otherwise be a hefty amount in capital gains taxes. Being able to reinvest that amount in real estate, thereby increasing one’s portfolio size, cash flow, etc., is meaningful and impactful.
Does Utah, Montana, Idaho, Wyoming or Colorado have state specific 1031 Exchange rules and regulations?
Montana has a claw back provision for 1031 Exchanges meaning the deferred taxes will become payable to the state when the Replacement Property is sold and no further exchange is performed. There are no state specific rules for 1031 Exchanges in Utah, Idaho, Wyoming or Colorado.
Is a Qualified Intermediary (QI) needed?
Yes. To avoid a taxable sale of the Relinquished Property, the use of an intermediary in virtually every 1031 transaction should be utilized. In addition, the Exchanger must enter into written agreements with the QI before the Relinquished Property is sold.
For my Replacement Property, do I have to buy from the properties I’ve identified in my 1031 Exchange?
Yes. During the 45 days you can change what you’ve identified, but once your identification period has expired, you must buy from only that list. There cannot be any substitutions or changes after day 45. The rules under section 1031 are very strict.
Mark’s Key 1031 Resources
1031 Brochure
1031 Reference Book
Your IPX1031 Resource
IPX1031 Exchange Industry Partner Tools
1031 Exchange expert, Mark Bullock, Esq. and his team offer you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
Schedule Seminar with Mark Bullock's team.
IPX1031 provides seminars for continuing education credits as well as custom and personalized seminars on tax deferred exchange topics for attorneys, CPAs, advisors, brokers, REALTORS®, agents, escrow, investors and taxpayers.
To find out about a seminar nearest you, or to schedule a seminar for your office, please contact us.
Industry Partner Resources
Is there an IPX1031 office near me? IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all US states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming Search for your closest 1031 agent and 1031 office location here.
