1031 Exchange
Utilizing the 1031 Exchange for Commercial Real Estate
1031 Exchanges make the investing of commercial real estate a tax haven. At Kirk Atamian Real Estate, we will walk you through the process of the 1031 Exchange, which allows investors to defer taxes and build wealth over time. By deferring the tax, you can reinvest the proceeds of a real estate sale into a new property of equal or greater value.Easily trade-up properties without getting hit with hefty tax bills.
Due to complex and strict IRS guidelines regarding 1031 exchanges, Kirk Atamian Real Estate provides consultation on adherence to these rules. Requiring qualified intermediaries, attorneys and accountants, this can be a complex and cumbersome process.
Allow Kirk Atamian Real Estate experienced professionals assist you with a 1031 Exchange. Our experts will provide consultation on strategy, identifying the right investments and provide transaction assistance with the new property.
1031 Exchange Considerations
01
45 Day Deadline
Replacement properties must be identified within 45 days from the date of sale of your initial property.
02
180 Day Deadline
A replacement property must be received, and the exchange completed within 180 days after the sale of your initial property.
03
Replacement Properties
Replacement properties must be clearly described, including legal description and address.
04
Receipt of Cash
Any cash or not like-kind property received at the end of the 1031 Exchange will be taxable.
05
Relief from Debt
Any cash used for debt relief may result in a taxable gain.
06
Property’s Tax Basis
Track the basis of your properties correctly to comply with Section 1031 tax regulations
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