In a 1031 exchange, you need to re-invest all of your equity from your relinquished property into your replacement property. If you take any of the cash from the sale of your relinquished property and redeploy it into your pocket, the IRS will rightfully tax you on that cash boot. During the 1031 exchange process, don’t take any boot (cash or other property that you receive in the exchange process).
Realize the Tax-Saving Power of 1031 Exchanges
Are you ready to realize the tax-saving power of section 1031 of the Internal Revenue Code? If so, you’ve come to the right place. CPEC1031, LLC specializes in facilitating like-kind exchanges under section 1031 across the United States. We can help you through the entire 1031 exchange process by answering your queries, preparing documentation, and helping ensure you are set up to defer your capital gains taxes. Contact us today at our Twin Cities office to set up a time to chat about your exchange. We are located in downtown Minneapolis, but we work with taxpayers from around the country.
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Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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