Equipment, Livestock and Aircraft Exchange

2018 Tax Reform limited 1031 Exchanges to Real Estate. This means that personal property aircraft, livestock, equipment, rolling stock and art are NO LONGER ELIGIBLE for exchange.  
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Cash From Your Property - A 1031 Loan Lets You Access Equity

Freeing up money before you sell your relinquished property can be a real benefit! Taxpayers reason that after making substantial cash contributions to their investment property certainly they should at least be able to take their cash contributions back out on a tax deferred basis. Cash contributions include: down payment, monthly reduction of principal balance on mortgages, and capital improvements to the investment real property. Nevertheless, the Internal Revenue Service Regulations are clear: Exchange proceeds received by the taxpayer during an exchange will be taxed. 
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1031 Exchange Options

Real estate investors are always trying to improve their situation. As life moves on the definition of “improvement” also changes. With IRC section 1031 investors can drastically change the shape of their real estate investment without current tax liability. 
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When the Clock Starts Ticking

There lots of rules to follow when you are trying to complete a 1031 exchange. The 45 day ID rule and 180 purchase rules can be the most difficult to deal with. 
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Single Member LLCs as Tenants in Common

Limited Liability Companies are young creatures recently created by State statutes. By contrast the law of tenants in common is centuries old, much of it dating back to English law. In a May/ December romance these are wed into what is often the best structure for holding multiple owner investment real property. 
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Real estate tax tips for exchanges

Generally, if you exchange business or investment property solely for business or investment property of a like-kind, no gain or loss is recognized under Internal Revenue Code Section 1031. If, as part of the exchange, you also receive other (not like-kind) property or money, gain is recognized to the extent of the other property and money received, but a loss is not recognized. 
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Community property and tenants in common

Dear Steve,
As you have advised, my wife and I will be holding title as two single member LLC's as tenants in common. My lender does not require a TIC agreement. Does the IRS require a TIC agreement? Is there anything else that I need to do to insure that the IRS will allow my 1031 exchange considering that my wife and I held title as community property in California and will now be holding title as tenants in common in Colorado? 
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Simple Steps Defer Capital Gains

1.) Email us the name, email address and phone # of your closer to us at infox@1031x.com. Also, include the address of the property you are selling as well as your phone number (in case we need to reach you).  
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Combining principal residence and vacation home

We are often asked whether tax liability from the sale of a vacation home can be deferred using the procedures of IRC section 1031.  The answer to this question is found in Revenue Procedure 2008-16.  
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