Thank you for referring your 1031 exchange transactions to Asset Preservation, Inc. (API) over the years. We appreciate the opportunity to provide excellent service on each and every 1031 exchange. We will continue to work hard to make sure that every exchange transaction is managed with the utmost care and professionalism.
API wishes you a happy Thanksgiving and holiday season!
Important Information for Investors Beginning an Exchange
From October 17 – December 31, 2020
Do Not File Your 2020 Income Tax Return Until Your Exchange Has Been Fully Completed.
The time frame you have to complete the acquisition of your replacement property ends at midnight on the earlier of the 180th day after the date you transferred the relinquished property OR the due date (including extensions) for your income tax return for the taxable year in which the transfer of the relinquished property occurs. (U.S. Treasury Regulations section 1.1031(k)-1(b)(2)).
This means if the 180th day following the closing of your first relinquished property falls after the due date for your 2020 tax return (this year, for individuals, April 17, 2021, you must file an application for extension of time with the IRS to extend the due date. If you do not file for an extension, you will NOT be able to acquire any replacement property in your exchange after your tax return due date.
Remember: If your exchange is not completed by the due date of your tax return — FILE AN EXTENSION.
If you have any questions, please call your Exchange Counselor at:
National Headquarters: 800.282.1031 – OR – Eastern Regional Office: 866.394.1031
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WEBINARS-Winter 1031 Exchange Update
Wednesday, December 2nd
12:00 PM – 1:00 PM EST
This fast-paced 45-minute webinar covers 1031 activity in both the commercial and residential markets, the status of the coming real property treasury regulations, what is happening in the pandemic, where and why investors are buying replacement properties, IRS audits, preserving section in the tax code/proposal to eliminate 1031 exchanges: what lies ahead, and Q&A.
Learn More & Register »
Thursday, December 3rd
11:00 AM – 12:00 PM EST
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 » |
Monday, December 7th
2:00 PM – 4:00 PM CT
CLE/CPE Available
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 » |
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We Love Our Happy Customers
One phone call and they took care of everything, no questions – no problems.
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Support Retention of IRC Section 1031 Like-Kind Exchanges
Tell your elected officials how 1031 exchanges have benefited you, your business, and your community. 1031 exchanges have been a vital part of investment transactions and U.S. tax policy since 1921.
Please take a few minutes to send a message to your elected officials.
Take Action »
Watch Now »
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Due in large part to record-low mortgage rates and depleted nationwide housing inventory, median single-family home prices grew year-over-year in all 181 metropolitan statistical areas tracked by NAR…Read More »
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800-282-1031Call Us
Asset Preservation would appreciate the opportunity to work with you on your next 1031 exchange. Give us a call for a free consultation.
800-282-1031
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