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What is a 1031 Exchange?
1031 Exchange Benefits
Real Estate that Qualifies for a 1031 Exchange
5 Things to Understand about 1031 Exchanges
We just talked about a simple overview of the 1031 Exchange
When you sell investment/ income real estate you have to pay capital gains tax on the gain from the sale of land or investment/ income homes.
The gain is caused by either taking depreciation deductions for tax purposes or from the appreciation over time of land or investment/ income homes.
The IRS Section Baker 1031 Exchange offers the major exception to defer capital gains tax normally due on the sale.
With the Baker 1031 exchange you can sell land, investment/ income homes or business, and utilize the proceeds in the purchase of the land or
investment income homes of equal or greater value without having to pay capital gains tax.
1031 Exchange Benefits
There are several benefits to consider with a Baker 1031 Exchange. For example, you could use the proceeds to buy bare land and construct a
building on it, consolidate several investment/ income homes into one to ease management and put all funds into a more valuable land or investment
income homes, take one land parcel or investment/ income homes and diversify into several land parcels or investment/ income homes, and purchase
commercial property from residential proceeds.
Real Estate that Qualifies for a 1031 Exchange
To qualify for a Baker 1031 Exchange, you need to sell land or investment homes that was held for business or real estate purposes for the purchase of other business or land or
investment/ income home. However, YOU CANNOT sell investment land or investment/ income homes for the purchase of personal property, as this would not
qualify for a tax deferral under section 1031.
5 Things to Understand about 1031 Exchanges
On a Baker 1031 exchange, to avoid any taxable gain you must reinvest all the Capital gains and purchase land or investment/ income homes of
equal or greater value. From the date that your old/former property CLOSES, you have 45 days to declare one or more land parcels or investment/ income
homes you will purchase. From the date of CLOSING of your old/former land or investment/ income homes you have 180 days to CLOSE one or more land or
investment/ income homes on your 45-day list.
The entity that is on the title of the old/former land or investment/ income homes must remain on the new land or investment/ income homes title. A
qualified intermediary, sometimes known as an Accommodator, can only handle the proceeds from the sale of the old/former land or investment/ income
homes. In a Baker 1031 exchange, you cannot personally touch the money nor can a friend, broker, employee, CPA, or attorney hold the money for you.
We just talked about a simple overview of the 1031 Exchange
There are several ways to use the Baker 1931 exchange and numberious situations the 1031 exchange can be an advantage to investors.
We suggest all investors research how the Baker 1031 Exchange can benefit them. There are many companies specializing in the
area.
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760 961-4453
760 961-4459
760 617-7278
760 961-4459
760 617-7278
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15437 Anacapa Road Suite 10
Victorville, CA 92392
CA DRE License 01188249
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Real estate for sale information is provided (IDX) the Victor Valley Association of Realtors® or the Inland Valley Association of Realtors. This Baker site provides links to other web sites that may be presented by government agencies, newspapers, etc. We are not affiliated with any of these sites. Nor are we responsible for their content for Baker Land
Real estate for sale information is provided (IDX) the Victor Valley Association of Realtors® or the Inland Valley Association of Realtors. This Baker site provides links to other web sites that may be presented by government agencies, newspapers, etc. We are not affiliated with any of these sites. Nor are we responsible for their content for Baker Land