There is a new trend in home sales that is drawing some attention. The current climate in the housing market has caused trouble for homeowners who are finding it difficult to find solid buyers. Their homes languish on realtor listings and in classified sections, waiting for a real offer from a qualified buyer. Some homeowners … Read more
A lot of people are taking advantage of a 1031 tax exchange, and they are benefiting greatly from it. The basic principle behind one of these exchanges is that one piece of property is exchanged for another piece of property that is of the same value. There are several different exchanges that can take place, … Read more
Considering a 1031 tax exchange for your next real estate transaction? If so, you’re already on the right track: a 1031 exchange represents a great opportunity for real estate investors to temporarily defer payment of capital gains taxes on their investments. The legal 1031 tax exchange has helped many investors rapidly grow the value … Read more
Your head is probably swimming by now by all the technical talk you’ll hear in real estate circles. 1031 property exchange may be just another bit of real estate jargon to you but if you have long-term goals for your real estate investments. It’s a phrase you really need to perk up and pay attention … Read more
YOU MAY NEED TO FILE FOR AN EXTENSION A 1031 exchange is reported on the tax return for the tax year in which the exchange begins, i.e. the tax year the relinquished property is transferred, using IRS Form 8824. If an investor’s exchange transaction started late in 2010, he may need to file for an … Read more