Tax Straddling – Pay Taxes in 2019 or 2020?

If your transaction closed at the end of 2018 and you are unable to find new property to identify or purchase the property that you have identified, you may still be able to defer paying taxes on your capital gains until 2020. Since you will receive your 1031 funds...

Boot in 1031 Exchanges

The term boot refers to non-like-kind property received in an exchange. Usually boot is in the form of cash, an installment note, debt relief or personal property and is valued to be the “fair market value” of the non-like-kind property received.  It is important to...

FIRPTA in 1031 Exchanges: An Ongoing Issue Made Simple

It’s no secret. There is and will continue to be a vast amount of foreign owned real property in the United States. And because of this, many investors involved in 1031 Exchanges have or will run across Foreign Investment in Real Property Tax Act (FIRPTA) issues. In a...

Are Cybercriminals Targeting Your 1031 Funds?

Fraud and cybercrime, particularly involving bank wire transfers for real estate transactions, continue to increase at an alarming rate. The Tax Code requires that a Qualified Intermediary (QI) hold your funds during the 1031 Exchange. Surprisingly, there are no...

Happy 10-31 Day!

10-31 Day haunts. Is your 1031 Exchange in safe hands? Watch if you dare. No tricks here. Cybercriminals are attacking 1031. Click to see what you can do to keep your 1031 funds...

A Treat for End of Year 1031 Exchangers?

With its share of tricks and treats, we’re not sure which is more daunting – the Internal Revenue Code or Halloween? During this time of year, a treat worth mentioning is that the Tax Code has provided taxpayers who are attempting a fourth quarter 1031 Exchange with a...

Opportunity Zones – A Good Investment?

The Opportunity Zones that were created by the Tax Cuts and Jobs Act have generated a fair amount of buzz in the legal, accounting and real estate communities and have raised questions on application to 1031. An Opportunity Zone (OZ) is an economically distressed...

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