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RES 1031 - Getting Started

RES 1031 - Begin an Exchange
Section 1031 of the Internal Revenue Code provides that tax on gain from the sale of real or personal property held for investment or business purposes can be deferred if the property is exchanged (rather than sold) for other like-kind property. A Section 1031 exchange is one of the few means available to postpone or even eliminate taxes on the gain realized from the sale of real estate and personal property held for investment or used in business.

Compliance with the "safe harbor" guidelines issued by the IRS on September 15, 2000 grants the Exchanger the presumption that the exchange, structured as a reverse exchange, also qualifies for 1031 tax-deferred exchange treatment.

If you are interested in pursuing a reverse exchange, contact us to discuss whether or not the exchange you are contemplating is a candidate for a tax deferred Section 1031 exchange. You may also complete the Exchange Inquiry Form and e-mail it or fax it to us so we can discuss the specifics of your transaction and help you more quickly.

Careful planning is necessary to ensure that the transaction adheres to the IRS guidelines.

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