CHICAGO, July 26, 2023 — Investment Property Exchange Services, Inc. (IPX1031), the leading national provider of 1031 Exchange services, has released their annual Top Misconceptions about 1031 Exchanges for 2023.
“We are excited to release this year’s Top Misconceptions for 2023,” said Scott Nathanson, IPX1031 Executive Vice President. “It is important that we provide correct and current information regarding 1031 Exchanges so that investors and their advisors are well informed and make the best strategic decisions that follow all IRC 1031 guidelines. Our goal is that all exchangers have the information necessary to obtain 100% tax deferral by utilizing a 1031 Exchange.”
While 1031 tax deferred transactions are typically not complex, there are common misunderstandings. For details regarding how these items are misconstrued, view the full article at www.ipx1031.com/top-1031-misconceptions-2023/
The top 10 misconceptions for 2023 are:
- “Like-Kind” Property
- Reverse Replacement Property
- Partial Exchange Improvements
- Disaster Relief Extensions
- ID Deadlines & Extensions
- Vacation and Second Homes Usage
- Owner Occupied Eligibility
- Replacing Debt
- Vacant Land
- Net Sales Proceeds
IPX1031 compiles the annual list from information gathered from surveys sent to CPAs, attorneys and real estate brokers, as well as questions asked by investors throughout the year.
About IPX1031 Investment Property Exchange Services, Inc. (IPX1031) is the largest and one of the oldest Qualified Intermediaries in the United States. As a wholly owned subsidiary of Fidelity National Financial (NYSE:FNF), a Fortune 500 company, IPX1031 provides industry leading security for exchange funds as well as expertise and experience in facilitating all types of 1031 Exchanges. IPX1031’s nationwide staff, which includes industry experts, veteran attorneys and accountants, is available to provide answers and guidance to clients and their legal and tax advisors. For more information about IPX1031 visit www.ipx1031.com.
Contact:
Cindi Marinez, VP, Marketing
cindi.marinez@ipx1031.com
