Friday, July 30, 2010
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Buyers   »   1031 Tax Free Exchange    

 Jackie Ricks-Sample
800-801-7861 Toll free
252-441-8011 Office

252-202-8011 Cell

JackieSample@SunRealtyNC.com

Bookmark this site!

Kill Devil Hills
1500 South Croatan Highway

PO Box 1630/KDH NC  27948
252-441-8011
800-801-7861
JackieSample@SunRealtyNC.com


 

 Jackie Ricks-Sample
800-801-7861 Toll free
252-441-8011 Office

252-202-8011 Cell

JackieSample@SunRealtyNC.com

Bookmark this site!

Kill Devil Hills
1500 South Croatan Highway

PO Box 1630/KDH NC  27948
252-441-8011
800-801-7861
JackieSample@SunRealtyNC.com


 

The 1031 tax-deferred exchange is a process that allow a taxpayer to use capital gains (profits) earned from one real estate transaction for the purchase of a “like kind” investment without penalty.  Of course, certain conditions apply:

  • Properties must of “like kind” meaning the old property must have been an investment or commercial property if he/she is looking to purchase an investment or commercial property. 
  • Total capital gains earned from transaction must be reinvested into the new property or is subject to taxation.
  • New investment property must be identified by the seller within 45 days of the closing of old property
  • Seller must take possession of the new property with 180 days of the closing on the old property
  • All transactions must go through a Qualified Intermediary.  Always consult with your attorney, CPA or other financial professional for qualified intermediaries in your area and specifics on your transaction. Again, your REALTOR® can help you contact the correct people.

The 1031 tax-deferred exchange is a process that allow a taxpayer to use capital gains (profits) earned from one real estate transaction for the purchase of a “like kind” investment without penalty.  Of course, certain conditions apply:

  • Properties must of “like kind” meaning the old property must have been an investment or commercial property if he/she is looking to purchase an investment or commercial property. 
  • Total capital gains earned from transaction must be reinvested into the new property or is subject to taxation.
  • New investment property must be identified by the seller within 45 days of the closing of old property
  • Seller must take possession of the new property with 180 days of the closing on the old property
  • All transactions must go through a Qualified Intermediary.  Always consult with your attorney, CPA or other financial professional for qualified intermediaries in your area and specifics on your transaction. Again, your REALTOR® can help you contact the correct people.

 

 
 

Jackie Ricks-Sample, ABR, CRS, GRI, RRS, SFR

Sun Realty

1500 S. Croatan Hwy / PO Box 1630 / Kill Devil Hills, NC 2948
Phone: 252-441-8011 | Toll Free: 800-801-7861 | Cell: 252-202-8011 | Fax: 252-441-7184      

Email: JackieSample@SunRealtyNC.com

    

 
 

 
 

 

 

 
 

Jackie Ricks-Sample, ABR, CRS, GRI, RRS, SFR

Sun Realty

1500 S. Croatan Hwy / PO Box 1630 / Kill Devil Hills, NC 2948
Phone: 252-441-8011 | Toll Free: 800-801-7861 | Cell: 252-202-8011 | Fax: 252-441-7184      

Email: JackieSample@SunRealtyNC.com

    

 
 

 
 

 
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