1031 Exchange Properties in Louisville, Kentucky
Individual investors and businesses have long used 1031 exchanges as a tax deferral strategy to defer paying federal capital gains and recaptured depreciation taxes. Given the current real estate market, the recaptured depreciation tax represents a prime reason to initate a 1031 exchange. With each 1031 exchange, Internal Revenue Code Section 1031 requires strict adherence to 1031 exchange rules.
The Certified Exchange Specialist on staff has been providing 1031 qualified intermediary services for professional advisers and their clients in Louisville, Kentucky since 2003. We listen to our clients, ask questions, prepare the 1031 exchange documents and hold the net equity in secure, liquid escrow accounts that earn interest.
1031 Exchange Properties
There is a wide range of 1031 exchange properties that are eligible for 1031 consideration. Each has an intent and facts supporting the intent. Intent of holding the real property must be either for investment or for use in a business. Facts can include hold time, minimal personal use, itemizing the property on Schedule E of the federal tax return and if a vacation property whether it was rented or in a rental pool.
The following real and personal property is a partial list of 1031 exchange properties and are eligible for 1031 exchange consideration:
Each 1031 exchange is meticulously managed, following 1031 security and transparency procedures, depositing exchange proceeds into non commingled, interest bearing accounts insured by FDIC. Either a personal identification number (PIN) known only between the Exchangor and the bank or qualified escrow account is implemented for each account providing a higher level of security authorizing account disbursements.
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