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What
is a 1031 Exchange?
Internal
Revenue Code (IRC) Section 1031 is one of the last
remaining tax loopholes. It is a powerful tool that
allows investors to exchange any investment property
for any other investment property. For your exchange
to be valid, you must follow specific IRS regulations.
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Here
is an abbreviated list of the regulations:
The properties being exchanged must be of like
kind.
For example, you may exchange:
- A
house for another house (or several houses)
- A
house for commercial real estate
land for rental property
- A
strip mall for an office building
any investment property for any other investment
property (as long as it is not occupied as your
primary residence)
- You
must identify and close on your replacement property
within a specific period of time.
- 100%
of the proceeds from your current property must
be held by a Qualified Intermediary and applied
toward your replacement property to get a full
tax deferral.
- Your
replacement property must be of equal or greater
value to the property you have sold to get a full
tax deferral.
- Properties
being exchanged must be used for investment. Personal
residences are not exchangeable
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I can guide you through the IRS's regulations, making a
1031 exchange EASY, INEXPENSIVE, and SAFE.
1031
Exchange Link Partner
Cherie Embree
Florida State Manager
Asset Preservation, Inc.
Phone: (888) 315-1031 Cell: (850) 380-9212
Eastern Region Operations: 866-394-1031
Email:
cherie@apiexchange.com
www.apiexchange.com
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