Section 1031 of the Internal Revenue Code is a useful tool available to all United States taxpayers. It allows you to defer your capital gains tax when selling investment real estate so long as you meet specific requirements. If you are considering a 1031 exchange of your property in the Bloomington area, contact our team of skilled Minnesota qualified intermediaries to get your 1031 exchange set up and realize the tax-saving benefits of a like-kind exchange – 612.643.1031.
Benefits of a 1031 Exchange in Minnesota
So what’s the benefit of a 1031 exchange and why should you consider one when selling real estate? The short answer is – 1031 exchanges save you money in taxes. Rather than cutting a check to Uncle Sam, a 1031 exchange allows you to reinvest your sales proceeds into your replacement property – thus keeping your money compounding over time.
Bloomington Like-Kind Exchange Resources
1031 exchanges can be incredibly complex and the more information you have at hand, the better. With that in mind, we’ve compiled a helpful list of online resources to answer your 1031 exchange questions. If you have any additional questions, don’t hesitate to reach out to our Boomington qualified intermediaries.
Bloomington 1031 Exchange Company
Section 1031 of the Internal Revenue Code allows taxpayers of all shapes and sizes to defer their capital gains taxes on the sale of real estate provided certain benchmarks are satisfied. Our qualified intermediaries have twenty years of experience in the industry and can ensure that your exchange completes successfully. Contact us today to learn more about the 1031 exchange process and get your exchange started! Our main office is located in the heart of downtown Minneapolis, but we work with clients throughout the United States.
