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1031 Exchange Services, LLC can tailor a tax-deferred exchange to meet the special needs of you and/or your client. We provide the following key elements necessary to facilitate and complete the exchange process:
- Determine if the property qualifies for a tax-deferred exchange.
- Balance the equities between the relinquished property and the replacement property.
- Calculate the adjusted basis of the relinquished property.
- Calculate the amount of exchange expenses.
- Calculate the amount of capital gain from the sale of the relinquished property.
- Calculate the estimated amount of tax due from the sale of the relinquished property.
- Determine the estimated amount of cash to be received from the sale of the relinquished property.
- Calculate the savings by accomplishing a tax-deferred exchange.
- Determine the amount of suspended passive losses available to offset capital gain from the sale of the relinquished property.
- Calculate the amount to be invested in the replacement property to defer the maximum amount of capital gain.
- Prepare the Exchange Agreement.
- Prepare the necessary documents to convey the relinquished property from the exchangor to the buyer.
- Provide a safe-harbor for funds to prevent the taxpayer from violating the "access to funds rule."
- Prepare the letter regarding timing and identification of the replacement property.
- Prepare the necessary documents to convey the replacement property from the seller to the buyer.
- Assist with preparation of Form 8824, "like-kind" exchanges.
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