Dear Clients and Associates, As we bring 2021 to a close, we have extremely good news! The proposed limitation to cap 1031 like-kind exchange tax deferral was defeated. The 1031 national trade association, the Federation of Exchange Accommodators – along with the support of 60+ other real estate-related organizations and the efforts of many others – demonstrated how vital 1031 exchanges are to job creation and promotion of real estate transactional activity nationwide. This activity also supports many ancillary industries connected to real estate transactions. Such news is a sigh of relief! On behalf of the API family, we thank you for your patronage and support this past year. It was an incredibly busy year in the real estate industry, and particularly for 1031 exchanges. We congratulate and thank everyone who worked long hours and dedicated themselves to ensure transactions were handled properly and timely. The teamwork amongst all parties involved was spectacular to witness. We wish you and your families a joyous and safe Holiday Season, and we look forward to working with you in 2022! Sincerely, |
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Javier G. Vande Steeg, President |
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We Love Our Happy Customers
You just helped me obtain a new customer!
Looking forward to working with you on this one.
Thanks again! - Bill K., Texas
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1031 Basics:
How much replacement property must I acquire in my tax deferred exchange in order to defer all of my capital gains tax? In our experience, some investors often confuse 1031’s requirement for tax deferral with their estimates of their potential capital gain. To learn what is required for full tax deferral in a 1031 exchange, click on Requirements for Full Tax Deferral.
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❅ 1031 Exchange Webinars ❅
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Wednesday, January 12th
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.
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Monday, March 21st
12:00 PM - 2:00 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.
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Important Information for Investors Beginning an Exchange
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From October 17 – December 31, 2021
If your 1031 exchange is not complete by the due date for your tax return, you may need to file for an extension. 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 2021 tax return (for example, for many individuals, April 15, 2022) you must file an application for extension of time with the IRS to extend the due date in order to have all 180 days to acquire the replacement property. 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. Taxpayers may have different tax return due dates.
If you have any questions, please contact your tax advisor.
National Headquarters: 800.282.1031
Eastern Regional Office: 866.394.1031
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❅ Call Us ❅
Asset Preservation would appreciate the opportunity to work with you on your next 1031 exchange. Give us a call for a free consultation.
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Dino Champagne
VP/Division Manager
310.508.7367
dino@apiexchange.com |
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Asset Preservation, Inc., does not give tax or legal advice. The information contained herein should not be relied upon as a substitute for tax or legal advice obtained from a competent tax and/or legal advisor. You have received this email because you have subscribed to Asset Preservation, Inc. as . If you no longer wish to receive emails please unsubscribe. Asset Preservation, Inc. (API) is a qualified intermediary under the federal 1031 exchange regulations. API (and its officers, directors, and employees) cannot provide tax or legal advice to anyone. Any tax-related information or other communication received from a representative of API is not tax or legal advice and should not be relied upon in making any decision. We strongly urge you to involve your tax and/or legal advisor (or to seek such advice) in any real estate, tax or business-related transaction. You can also notify us by reply to this message, call us toll-free at 866.713.1031, email us at: e-newz@apiexchange-enewz.com or notify us in writing to: Asset Preservation, Inc., 1420 Rocky Ridge Drive, Suite 100, Roseville, CA 95661, Attn: Marketing Dept. © 2025 Stewart Information Services Corporation | All Rights Reserved | Privacy |
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