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...

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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 safe.

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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...

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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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In 2018 Are Your 1031 Exchange Funds at Risk?

1031 Due Diligence - Questions to ask a QI Section 1031 of the Tax Code requires that a 1031 Exchange intermediary hold the net sale proceeds from your sale until you purchase your new property. What you might not know is that during the last recession, real estate...

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1031 Tax Reform Update – June 2018

June 2018 As we all know, Section 1031 was preserved in the 2017 Tax Cut and Jobs Act (JCTA), but only for real property assets.  Personal property assets, such as machinery, equipment, vehicles, rolling stock, aircraft, collectibles and artwork, no longer qualify for...

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What Increases Tax Basis in a 1031 Exchange

What is tax basis? The term “basis” is the cost of a property for tax purposes.  When a property is initially purchased, its basis is the price paid for the property plus acquisition costs; often this is referred to as the “purchase money basis”.  Over the time the...

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