Focuses on the provisions of the section 1031 of the U.S. Internal Revenue Service's Internal Revenue Code which recognizes the exchange of property held for productive use in a trade or business or for investment. Factors to determine whether the property is being held for sale to customers...
Our wholly owned subsidiary, T & C Exchange Accommodators Inc., is a qualified intermediary for the Internal Revenue Tax Code, Section 1031, to complete your tax deferred exchange. Town & Country Escrow Corp., the main office is located in Corona, with a Branch in Beaumont, California. ...
No. Section 1031 of the Internal Revenue Code was first introduced in 1921. The purpose or intent behind a 1031 exchange is to encourage you to reinvest 100% of your net proceeds into like-kind replacement property when you sell qualifying property. You might be interested in reading the His...
Section 1031 of the Internal Revenue Code (IRC) provides for investors to defer capital gains taxes on the sale of business or investment property when they reinvest the proceeds of that sale in the purchase of a new business or investment property. “No gain or loss shall be recognized on ...
A 1031 exchange, also known as a like-kind exchange, refers to the process of selling one property and acquiring another similar property within a specific timeframe while deferring taxes on the capital gains. The IRS allows this tax deferral under Section 1031 of the Internal Revenue Code, ...
In accordance with IRC Section 1031 regulations, Alpine 1031 Tax Deferred Exchange Co., LLC is a facilitator under Internal Revenue Code Section 1031 and guides you through the entire process. We make certain that you have a complete understanding of the exchange requirements, prepare all required...
Homeowners can avoid paying taxes on the sale of a home by reinvesting the proceeds from the sale into a similar property through a1031 exchange. This like-kind exchange—named afterInternal Revenue CodeSection 1031—allows for the exchange of like property with no other consideration, or payment...
Nonrecognition of gain or loss.No withholding is required if the seller sends the buyer a notice, signed under penalties of perjury, stating that the seller won’t recognize gain or loss on the sale because of a nonrecognition provision in the tax code (e.g., a1031 exchange) or a provi...
You can also kick this depreciation recapture can down the road with a Section 1031 exchange (also referred to as a like-kind exchange). Perform your favorite internet search on this topic- way too involved to explain here except that a Section 1031 exchange in most situations allows the ...
The rules for this option are described in Section 1031 of the Internal Revenue Code, which is why it is often called a "1031 Exchange". Deferring capital gains is not the same thing as eliminating them. The amount that would have been due at the time of sale will eventually be due ...