Wishing You a Happy Thanksgiving!
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, 2023
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, that if the 180th day following the closing of your first relinquished property falls after the due date for your 2023 tax return (for example, for many individuals, April 15, 2024) you must file an application for an 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.
If you have any questions, please call your Exchange Counselor at
National Headquarters: 800.282.1031
Eastern Regional Office: 866.394.1031
We Love Our Happy Customers
“This was our first time doing a 1031 exchange, and they made the process painless. They were friendly, courteous, attentive, professional, and helpful. Any questions we had were quickly answered. I would use their services again if we do any future exchanges. Highly recommended!”
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– A Y
1031 Exchange Webinars
Monday, December 19th
10:00 AM – 11:00 AM CT
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.
Thursday, December 1st
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, and how to avoid common pitfalls and related-party transactions.
Are you selling a property in the near future? If so are you considering a 1031 Exchange? There are a number of reasons to explore this tax code and how it can keep more of your hard-earned money working for you. Join us as we discuss the strategies behind a 1031 exchange, and how it can benefit you now and well into the future. Spots are filling up, so don’t miss the chance to register now.
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.