Important Details

1031 Exchange

Defer Capital Gains When Selling an Investment Property

If you’re planning on selling an investment property, you may face a large capital gain subject to federal and state taxes. A tax-deferred exchange under Section 1031 of the Internal Revenue Code allows you to sell investment properties and acquire "like-kind" properties while deferring federal, and possibly state, capital gains taxes.

In order to receive tax-deferred treatment, an independent party must act as a qualified intermediary (QI) or accommodator to hold your funds from the time you sell your relinquished property and purchase a replacement property.

Until recently a QI could be any person or firm not associated with the investor, with no licensing or other qualifications required. With recent QI failures, some states now have regulations in place. Utah has no active regulation program.

Always investigate your QI thoroughly.

More Information

Important Details




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This page was last modified on Mon Oct 16 14:38:27 MDT 2017