Unfortunately, the qualified intermediary industry is completely unregulated. Anyone can hold out their hat and proclaim themselves a qualified intermediary. That leads to a lot of slipshod work being done by people who don’t understand the forms that they’re filling out. Many inexperienced intermediaries also encourage taxpayers to engage in 1031 exchange practices that just don’t work.
For these reasons and more, it’s important to know who you’re dealing with and only work with a seasoned qualified intermediary with a successful track record. Make sure you work with a qualified intermediary with a proven track record of success and many years of experience facilitating 1031 exchange just like yours.
Consider a 1031 Exchange
If you own investment or business real estate and are thinking about selling in the near future, consider a 1031 exchange. With a like-kind exchange you can defer your capital gains tax burden when selling real estate that qualifies under section 1031 of the IRC. In order to qualify, your property needs to be held primarily for use in your trade or business or for investment purposes. If you want to learn more about the tax-saving benefits offered by section 1031, contact the qualified intermediaries at CPEC1031, LLC today. Our team has decades of experience and can help you through your exchange.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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