What Is A Qualified Intermediary?
The IRS says if you touch the money you pay the tax. However, if you use a qualified intermediary to transfer the money from the sold property into the purchased property, you qualify for a tax free exchange. The IRS does not permit your accountant, attorney, or escrow company to be your intermediary. Qualified intermediaries are members of the Federation of Exchange Accommodators and are bonded.
Other 1031 Tax Exchange FAQs
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Q:
How Can I Qualify To Defer My Taxes When I Sell My Property?
A: Any investor can qualify! Section 1031 of the IRS code lets you sell your property and buy a new property and deferring the payment of taxes owed. You simply … More -
Q:
How long can I take to buy a new property?
A: You have 180 days between the closing date on the sold property and the closing date on the purchased property. More
1031 Exchange Sub-categories
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1031 Exchange Real Estate
1031 Property Exchange |
1031 Tax Deferred Exchange
Reverse 1031 Exchange |
