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Offer on Replacement Property Before Closing on the Relinquished Property Sale

Offer on Replacement Property Before Closing on the Relinquished Property Sale

In a 1031 delayed exchange, the taxpayer has 45 calendar days from closing on the sale of a relinquished property to identify replacement properties, pursuant to the rules of identification. This 45-day period is referred to as the “Identification Period.” Some commonly asked questions are: “Can the taxpayer begin looking for suitable replacement property before closing the sale of the relinquished property?” and “Can the taxpayer make offers on and get replacement property under contract before closing the sale of the relinquished property?” The answers to these questions are “yes.”

Although the start of the Identification Period is triggered by the relinquished property sale closing, nothing prohibits a taxpayer from looking for replacement property before the relinquished property sale closes. In fact, in many situations, this may be a very wise…

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Support Retention of IRC Section 1031 Like-Kind Exchanges

Tell your elected officials how Section 1031 like-kind exchanges have benefited you, your business, and your community. Section 1031 has been a vital part of everyday business transactions U.S. tax policy since 1921.

Please take a few minutes to send a message to your elected officials.

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Webinars: 1031 Exchanges Issues in Today’s Market

Tuesday, September 29th
3:00 PM – 5:00 PM EDT

This two-hour course for commercial brokers provides a concise and thorough overview of IRC Section 1031 tax-deferred exchanges. This webinar tackles advanced issues such as partnership/LLC scenarios, creative property variations such as perpetual cellular easements (cell towers), fractional ownership, transferable development rights, reverse and improvement exchanges, how to avoid common pitfalls and related-party transactions.

Learn More & Register »

Tuesday, October 6th
11:00 AM – 12:00 PM EDT

CPE Credit Available

This one-hour intermediate/advanced webinar provides a concise and thorough overview of 1031 exchanges for accountants, CPAs, and tax advisors. This webinar covers critical time deadlines, like-kind requirements, fractional ownership, oil/gas/mineral rights, related party transactions, partnership/LLC scenarios, reverse and improvement exchanges, and how to avoid common pitfalls.

Learn More & Register »

Stewart Partners with SVN/SFRhub Advisors

Stewart has formed a partner alliance in the single-family rental (SFR) and build for rent (BFR) marketplace with SVN|SFRhub Advisors, a national commercial real estate brokerage with over $1 billion of active SFR/BFR portfolio listings.  SFRhub enables investors to view, create, and customize an SFR/BFR portfolio that meets specific goals and investment objectives. Visit the link below to learn more.
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All SVN® Offices are independently owned and operated. SVN | SFRhub Advisors and Stewart Title Company are neither affiliates nor does SVN/SFRhub Advisors receive any compensation from Stewart Title Company. Local Broker License Information: www.SFRhub.com/realestatelicensing

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This is our 4th property exchange with you. Every one of them has been a “10” experience.

  • – Berry, COLORADO

 

18 Best Places to Buy Rental Property in 2020

18 of the best places to buy rental property in 2020. Discover why each of these markets is a great place to invest, read rental market statistics, and more.

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    1031 Like-Kind Property: Does Federal or State Tax Law Control?

    By |September 18th, 2012|Categories: Uncategorized|

    Like-Kind Property: Does Federal or State Tax Law Control? The Internal Revenue Service’s Chief Counsel Advice (CCA) #201238027 addresses the issue of whether state law characterizations of property as real or personal are determinative of [...]

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    When to Pay the Piper (and how much will he charge)? & 1031 Exchange Updates

    By |August 7th, 2012|Categories: Uncategorized|

    When to Pay the Piper (and how much will he charge)? By Jon Christianson, Esq., JD, LLM Tax Tax rates on capital gains are scheduled to increase in 2013 if Congress fails to extend the [...]

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    New 3.8 Percent Tax and the Impact on Real Estate Investors

    By |July 9th, 2012|Categories: Uncategorized|

    New 3.8 Percent Medicare Tax With potential tax increases looming on the horizon, the value of tax deferral mechanisms, such as Section 1031 exchanges, have never been greater. One example of a potential tax increase [...]

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    By |May 22nd, 2012|Categories: Uncategorized|

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