𝟭. 𝗬𝗼𝘂 𝗰𝗮𝗻 𝗼𝗻𝗹𝘆 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝘁𝘆𝗽𝗲 𝗮𝘀 𝘁𝗵𝗲 𝗼𝗻𝗲 𝗯𝗲𝗶𝗻𝗴 𝘀𝗼𝗹𝗱.
Myth: There are more than 16 different type of property you can swap in and out of
𝟮. 𝗬𝗼𝘂 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹.
Myth: You can sell to one person or entity and purchase from a completely different person or entity – just like you do in any other real estate transaction.
𝟯. 𝗬𝗼𝘂 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗯𝘂𝘆 𝘀𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝘁𝗵𝗮𝘁 𝗰𝗼𝘀𝘁𝘀 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂 𝗮𝗿𝗲 𝘀𝗲𝗹𝗹𝗶𝗻𝗴.
Myth: You can purchase a replacement property for less than your relinquished property and still receive some 1031 tax benefits. However, if you seek full tax deferral, you will have to purchase property of equal or great value than the net selling price of your relinquished property.
𝟰. 𝗪𝗵𝘆 𝗯𝗼𝘁𝗵𝗲𝗿? 𝗬𝗼𝘂’𝗹𝗹 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗽𝗮𝘆 𝘁𝗮𝘅𝗲𝘀 𝘀𝗼𝗼𝗻𝗲𝗿 𝗼𝗿 𝗹𝗮𝘁𝗲𝗿.
Myth: If you keep rolling one 1031 exchange into another until your time on Earth is up, you will not only have deferred taxes on your gains each time, but you will have accomplished the seemingly impossible: avoiding taxes altogether. How is this? Because when your properties pass to your kin, they get a step – up in basis, effectively making a lifetime worth of gins invisible to the US Government
𝟱. 𝟭𝟬𝟯𝟭 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗮𝗿𝗲 𝗰𝗼𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗲𝗱 𝗮𝗻𝗱 𝘁𝗼𝗼 𝗰𝗼𝗻𝗳𝘂𝘀𝗶𝗻𝗴 𝘁𝗼 𝗯𝗲 𝘄𝗼𝗿𝘁𝗵 𝗶𝘁
Not with 1031 Specialists as your Qualified Intermediary – 95% of what we do is educate to make sure you reach your investment goals. We have accomplished 100% of all our client’s 1031 exchange needs.
