Danita Vigil & Tracey Wilson, CES®
Colorado & Wyoming
Danita Vigil & Tracey Wilson
Vice Presidents / Account Executives
1745 Shea Center Drive, Suite 400
Highlands Ranch, CO 80129
Danita Cell: (303) 242-6572
Tracey Cell: (303) 883-5846
Toll-Free: (877) 775-1031
Danita Email: danita.vigil@ipx1031.com
Tracey Email: tracey.wilson@ipx1031.com
Mountain Regional Office
170 South Main St Suite 135
Salt Lake City, Utah 84101
Phone: (801) 315-5337
Toll-Free: (877) 775-1031
Fax: (801) 841-3537
For the most recent 15 years, Tracey Wilson has been a Senior Consultant and Managing Director of Business Development, and Vice President of IPX1031, helping facilitate 1031 Tax Deferred Exchanges. Tracey is an expert in the 1031 Exchange rules and 1031 regulations of Delayed, Simultaneous, Reverse and Improvement Exchanges and provides nationwide Qualified Intermediary services to his clients. Prior to joining Investment Property Exchange Services, Inc., Tracey had over 13 years of investment banking experience with Credit Suisse First Boston in New York and Zurich, and Merrill Lynch in New York, Denver, and Hong Kong. He is a certified instructor with the State of Colorado Real Estate Division, Colorado State Bar Association, and the Colorado Society of CPAs providing CE, CLE, and CPE accredited classes. Tracey has been an adjunct faculty member of Regis University teaching accounting, finance, economics, and statistics. He has a BS in Finance and Engineering, an MBA in Finance, and is currently working on his MS in Accounting. As Vice President and Account Executive for Colorado and Wyoming,
Danita Vigil’s main focus at IPX1031 is to help closers simplify transactions, exceed client satisfaction and produce seamless 1031 Exchange transaction processes. A 2nd generation title insurance worker, Danita started with Security Title Guaranty Co. in 1981 before transferring to sister company First American Heritage Title Company in 1992 where she enjoyed managing production and marketing efforts for over 15 years. Through mergers and acquisitions, Danita now has her 38 year service award from Fidelity National Financial, the parent company of Investment Property Exchange Services, Inc.
IPX1031 Exchange Seminars
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 – from St. George and Salt Lake City, Utah to Idaho Falls and Twin Falls, Idaho to Fort Collins, Durango, Grand Junction and Colorado Springs, Colorado. To find out about a seminar nearest you, or to schedule a seminar for your office, please contact us.
Start an Exchange with Danita Vigil and Tracey Wilson
What Our 1031 Customers Are Saying
Mary Beth Stenzel
Presentation Sponsor
Danita and her team provided valuable information to our group of accountants. I have referred clients to her as a result of the presentation I hosted. Thanks for teaching us new that we can actually use!
Sahsha Graves
Sales Executive
I am so lucky that I get to work with Danita! She has helped me to understand how a 1031 Exchange works and many other things that are helpful for my clients when they are trying to save time and money! I appreciate all that you do!
Valerie Agnew
Realtor
Danita is fabulous! Current Information Quickly. Very Knowledgeable! I would recommend Danita & IPX as the absolute best.
1031 Resources & Information
Does Colorado have any special 1031 Exchange rules or regulations?
The state of CO has a 2% Withholding Tax, but this can be easily and completely avoided by doing a 1031 Exchange. For 2023, the Colorado income tax rate is now 4.44%, and is deferred in the 1031 process. Make sure to consult with your tax advisor, attorney, or accountant as IPX1031 cannot provide tax or legal advice.
2% Colorado Withholding info:
• Corporations that do not maintain a permanent place of business in Colorado, and nonresident individuals, estates, and trusts are subject to Colorado income tax withholding on the sales of Colorado real estate in excess of $100,000. The withholding tax, if required, will be the smaller of:
> Two percent (2%) of the sales price, rounded to the nearest dollar, or
> The net proceeds from the sale. (“Net proceeds from the sale” means the net amount that would otherwise be due to the seller on the settlement sheet.)
• The tax is withheld at the time of closing by the title insurance company, its agent, or any other person providing closing and settlement services. The tax is submitted to the Colorado Department of Revenue, where it will be credited to the seller’s income tax account as an estimated tax payment. The seller can claim credit for the estimated payment against the income tax liability when filing a Colorado income tax return for the year of the sale. Taxpayers must file a Colorado individual income tax return to claim the estimated payment credit. [§39-22-604.5 C.R.S.]
• Colorado’s 2% Withholding on the sale of investment real estate can be avoided by doing a 1031 exchange AND by filling out Colorado’s Department of Revenue (DOR) Form 1083, with an election on Page 1, Box 12, Item e, and on Page 2, 5th section: “Affirmation of No Reasonably Estimated Tax Due”. Here is a link to both the two-page form and the accompanying two pages of instructions.
Does Wyoming have any special 1031 Exchange rules or regulations?
The state of Wyoming has no particular 1031 rules or regulations. WY has no state income tax.
What are the benefits of doing a Tax Deferred 1031 Exchange?
The main reason to do an exchange is to defer the tax on gains from the sale of real property – and not have to pay the capital gains taxes immediately, which can be 30% to 40%! Non-tax reasons to do an exchange would be:
a. The property being sold is fully depreciated, so exchanging into a higher value property will provide the taxpayer with a renewed tax benefit of depreciation
b. Property being sold is not able to be refinanced: so exchanging into improved property will support a new refinance loan
c. Property being sold is land and therefore not income-producing (in fact, land can be cash flow negative); but exchanging into improved property can provide positive cash flow
d. Exchanging from a low cash-flow property into a higher income-producing property
e. Relinquished Property is in a stagnant area, and exchange into Replacement Property with greater appreciation potential
f. Exchange into – eventually – your dream-home!
Where can I do a 1031 Exchange? Can I buy or sell out of state or country?
You can sell any investment property (that is held for investment or used to produce income) located anywhere in the U.S. including D.C., and exchange into investment property anywhere in the U.S. including D.C. So, yes, you can buy out-of-state!
What about buying Replacement Property in a foreign country? No, unless you buy in Guam, Northern Mariana Islands, or the U.S. Virgin Islands.
What about selling an investment property located in a foreign country? You can do an exchange but would need to buy or exchange into investment property that is also located in a foreign country.
You cannot sell in the U.S. and buy/exchange into a foreign country; or you cannot sell investment property in a foreign country and exchange into the U.S. – you cannot cross the border, so to speak.
What if my Replacement Property is less than my sales price of my Relinquished Property?
If you buy or exchange into Replacement Property that is less in value than your Relinquished Property, then the amount that you buy down in value, that difference, will be subject to capital gains taxes to the extent of any recognized gain. And the capital gains tax rates can be from 30% to 40%!
To fully defer all of your gains, to have no tax implications, then buy/exchange into Replacement Property that is equal of greater in value than the Relinquished Property (and reinvest all of the net sales proceeds or exchange proceeds).
Or, you can buy/exchange into multiple Replacement Properties to achieve your equal-or-greater dollar amount.
How do I start my 1031 Exchange?
To get started, give Tracey a call at (303) 883-5846 or Danita at (303) 242.6572 or click here for our online Start an Exchange form.
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Danita Vigil, Tracey Wilson & IPX1031 are a winning combination.
See how we’re different and why.
With an office near Denver and Boulder, Colorado, IPX1031, the nation’s largest exchange facilitator and accommodator, provides industry leading exchange services including guidance, expertise, security and key information on 1031 Exchange rules, regulations and strategy. 1031 Exchange experts, Tracey Wilson and Danita Vigil offer you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.
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