Helping Individuals with their 1031 Exchange Needs

             Getting Started

Years of knowledge and experience will help make your 1031 Exchange a succes.  Hiring the right professionals is paramount for you to achieve maxium results.

 

Call us for a free consultation at 347-871-0318 or use our Contact Form.  One of our professionals will help you navigate the requirements of the 1031 tax code to help you defer your gains or loses.  We look forwarded to speaking with you.

    Qualified Intermediary

The Qualified Intermediary is one of the safe harbors created by the IRC regulations, also called the “QI.”  The QI acts on behalf of the exchangor as a facilitator of the 1031 exchange.  The QI must be an independent third party and is designated by the exchangor to receive the proceeds from the sale of the exchangor’s relinquished property. In effect, the QI sells the relinquished property and uses the proceeds to purchase the replacement property.

       Tax Code 1031

Under Section 1031 of the Internal Revenue Code, owners of business or investment property, through the use of a Qualified Intermediary, can sell one property and purchase a similar “like-kind” property while deferring capital gains. Capital gain taxes on the sale

of the “relinquished” property are deferred until the“replacement” property is sold at a future date.

 

 

1031EZ  |  Offices in New York City  |  Phone 347-871-0318  |  info@1031ez.com

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