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What is a 1031 Exchange?
The Internal Revenue Code provides that a taxpayer may sell real property and defer payment of capital gains tax, if that taxpayer uses the proceeds to acquire a like-kind replacement property. IRC 1031 provides that neither the gain nor loss is recognized of property held for investment or production use in trade of business is exchanged for property held for investment or productive use in a trade of business.
Why Exchange?
Capital gains tax is significant.
Reinvestment into replacement property allows taxpayer to leverage dollars that would otherwise be spent on taxes.
Allows for non-income producing property to be replaced with income-producing property.
Allows taxpayer to diversify portfolio and minimize risk.
What We Do:
Act as Qualified Intermediary (QI), as required by the Treasury Regulations.
Prepare all documents required for the exchange.
Hold the exchange proceeds to avoid constructive receipt of funds.
Coordinate with the closing agents, real estate professionals, and tax and legal advisors.
Martinique Shoemaker
Qualified Intermediary
“Secure 1031 Exchanges With Excellence”
