1031 exchange basics: questions to ask your CPA
A 1031 exchange is a section of the tax code that can let you sell an investment property and buy another one while putting off the capital gains tax. There are strict rules and deadlines, so you need a CPA and a qualified intermediary before you sell.
Questions to ask your CPA
- Does my sale qualify, and what would my tax be if I don't exchange?
- What are the deadlines to name and close on the replacement property?
- Which qualified intermediary should hold the money?
- What happens if I take some cash out?
I can help you line up the sale and look for the next property. The tax side is for your CPA and attorney.
General info only, not tax, legal or investment advice. Check with your CPA and attorney.
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Text SELL to 717-510-1452Written by Josh Schoenly, REALTOR® with eXp Realty, LLC (PA License RS307071). More about Josh. This is general info, not tax, legal or investment advice. Check with your CPA and attorney.
