Standard 1031 Exchange
Q. I want to sell one rental property and buy another. What kind of transaction will allow me to do that without having to pay or withhold income tax on the sale of the first house.
A. It’s called a 1031 Tax Deferred Exchange. We’ll be using an accommodator to hold the money from the first property to use on the second property, which makes it an exchange rather than a sale.
If you’ve never done it before, it may sound complicated, and some restrictions apply, but people do it all the time. We’ll help you sell your existing income property, buy another, and and walk you through the whole process.
The Accommodator firm we use has an in-house lawyer and CPA so you won’t have to look elsewhere for answers to your questions. (Most accommodators will not answer tax and legal questions.)
The property you exchange into can be anywhere in the United States. We can help you sell your rental in California for top dollar, set up the 1031 Exchange, and have the accommodator ready to reinvest in your new rental.
If an IRS deadline becomes troublesome, don’t worry. FIND OUT NOW how you can have the money transferred into real estate that is contained in a Delaware Statutory Trust (DST) while keeping all the tax advantages of the Exchange. You will likely find the DST to be an even more attractive investment than another rental.
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