South Dakota 1031 Exchange – What Are the Requirements for a 1031 Exchange in SD?

Hello. This is TC Fair with IPX1031.

Today, we’re here to talk about how to get the full benefit of a tax deferred exchange within the state of South Dakota.

Now, the good news is is that South Dakota does not have any specific rules or regulations limiting the benefits of a ten thirty one tax exchange.

So you could, in fact, sell property anywhere in the state of South Dakota and purchase your replacement property anywhere in the nation. That would qualify as section 1031 is part of our federal tax code. So the same rules apply in all fifty states. Nothing is different within the state of South Dakota.

Now in order to get the full benefit of the tax deferral, the two main things you wanna make sure that are happening are one, that you’re purchasing a replacement property that’s equal or greater in value than what you’re selling based off of the contract sales price. And two, that you’re reinvesting all of those proceeds from the sale towards the purchase first. So if you’re selling for a hundred, you wanna purchase replacement property for a hundred or more and use all of those proceeds from the sale towards the purchase first.

Now, in fact, if you are selling any investment property within the state of South Dakota, please feel free to reach out with any questions. I’m more than happy to assist. In fact, it is my goal to be your 1031 resource.

Thanks.

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