Kentucky 1031 Exchange – What Are the Requirements for a 1031 Exchange in KY?

Hi. This is Greg Smith with IPX1031. I’m pleased to let you know that when conducting a 1031 exchange with a property that you’re selling in the common wealth of Kentucky.

There are no additional state specific requirements added by Kentucky. You can defer your state taxes right along with deferring the federal taxes.

Since 1031 one is a section of the federal tax code, it is applicable to all fifty states. So if you’re a customer that’s interested in selling a piece of real estate in Kentucky and exchanging it elsewhere, whether in Kentucky or another state, you are perfectly fine doing that through a 1031 exchange. If you don’t use a 1031 exchange, Kentucky will add a 4.5% tax to the already brutal federal taxes.

Now as a reminder, when conducting an exchange, it’s really important to select a qualified intermediary the largest provider of title insurance services in the entire world. So when it comes to financial strength, security of funds, and protecting your money in this unregulated industry, IPX is second to none in the business.

For more information, please go to our website and thank you for your time today.

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