Important Information for Investors Beginning an Exchange
From October 17 – December 31, 2021If 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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Thursday, December 9th
12:00 PM - 2:00 PM CT
This two-hour course for commercial brokers provides a concise and thorough overview of 1031 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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Tuesday, November 9th
11:00 AM - 12:00 PM EST
CPE Available
This one-hour intermediate/advanced 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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We Love Our Happy Customers
Job well done!! It was a pleasure working with you on the 1031 Exchange. You made it so easy and effortless. Thank you again for taking care of my clients and making it all come together. I appreciate it. I look forward to the next one.
- Peter, Colorado
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1031 Tools: Capital Gain Tax Calculator
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Use our capital gain tax calculator to determine the approximate capital gain taxes deferred by performing a 1031 exchange with Asset Preservation, Inc. Just enter your figures in the form fields provided and click on the ‘Calculate’ button, click here…
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These Markets are Expected to Be the Hottest for Real Estate in 2022
The pandemic didn’t just upend the working world, it also has brought about some seismic shifts in residential real estate.
Large cities, which previously dominated the list of the country’s top real estate markets, are losing their appeal as people discover they can work from anywhere, spend less, and escape dense crowds. And that has unleashed a flood of demand for smaller metro areas. In fact...
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Support Retention of 1031 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.
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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. |
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