Category: 1031 Exchange
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Capital Gain Taxes – The Same for Now
From IPX1031 – Danita Vigil and Tracey Wilson Toward the end of 2010, many people wondered what would happen to capital gain tax rates on January 1, 2011. Some even scrambled to close the sale of property before the end of the year. As it turned out, Congress extended the capital gain rates in mid…
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Determining intent for a 1031 Exchange: How the IRS reads minds
from IPX1031.com Most owners of real estate will tell you that if they bought a property for $75,000 and sold it a month later for $100,000, that it was a great investment. If they deferred paying the capital gain tax on their sale by utilizing a 1031 exchange, well they are not just a great…
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Non-Tax Reasons for a Like-Kind Exchange
IPX 1031 Most real estate investors are familiar with 1031 exchanges, which permit an investor to defer the payment of capital gain taxes upon the sale of qualifying investment property so long as they acquire like-kind replacement investment property. Many investors only consider the tax reasons for a like-kind exchange. That is, the deferral of…
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I Sold My Investment for a Loss and Still Owe Taxes??
from IPX1031 July Newsletter (www.ipx1031.com) This statement results from having “phantom income”; that is, taxable gain but no cash to pay taxes with. Sometimes in a flat or down market, investors do not properly consider the tax consequences of a sale. As a consequence, they experience a terrible surprise when their CPA gives them their…
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Exchanging Real Estate for Interest in Oil and Gas
Via Investment Property Exchange Services Many investors who sell vacant land, investment condominiums, apartment complexes and other real estate utilizing a 1031 Exchange, are looking for new “non-traditional” investments. Regarding this topic, our own Patricia Flowers, Assistant Vice President in the IPX Boston office was recently quoted in the New England Real Estate Journal Online.…
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Colorado law adds better regulation on QI’s
DENVER—The Colorado State Assembly passed a new law this month that regulates qualified intermediaries and other 1031 exchange facilitators. “To protect taxpayers who engage exchange facilitators, exchange facilitators should meet certain requirements and follow certain procedures,” the bill states. With it, Colorado becomes the third state to enact some kind of regulation of exchange facilitators,…
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Fort Collins Condo Complex Sells for $2.2M
BBK Properties LLLP purchased Sherwood Greens, a 15-unit multifamily in Fort Collins, CO, from Hellenic Plaza LLC for $2.2 million, or about $146,667 per unit. The condominium property at 630 S. Sherwood St. consists of 15 three-bedroom/three-bathroom units. The seller utilized a 1031 exchange to complete the transaction.
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How Owner Carry Notes Impact 1031 Exchanges…
In this current climate of lender uncertainty, we’re getting a lot of questions about “owner carry” notes and how they impact a 1031 exchange. Whether you call it seller financing, contract for deed or purchase money mortgage, what we are talking about is the amount of financing the seller of a property is willing to…