A 1031 exchange is perhaps the best tool available to taxpayers for saving money when selling real estate. The best part is that Section 1031 of the Internal Revenue Code is available to all United States taxpayers. If you are considering a 1031 exchange of property in the Edina area, contact our team of Minnesota qualified intermediaries to get your 1031 exchange set up – 612.643.1031.
Save Capital Gains Taxes with a 1031 Exchange
1031 exchanges allow you the opportunity to defer your capital gains taxes when you sell investment real estate. In order to qualify, you need to reinvest all of your sales proceeds into a new replacement property of equal or greater value. You also need to complete your exchange within the allotted timeline of 180 days.
When done correctly, you can defer your capital gains and keep that money working for you in a continued investment property, rather than cutting a check to the IRS.
Edina 1031 Exchange Resources
1031 exchanges present a lot of traps for the unwary. The best thing you can do to prevent issues with your exchange is to educate yourself. To that end, we’ve put together a list of helpful online resources about all things related to section 1031. Click on the links below for more information. As always, if you have additional questions about your 1031 exchange, don’t hesitate to call our Edina qualified intermediaries.
Qualified Intermediaries in Edina, MN
CPEC1031, LLC is a Minnesota-based 1031 exchange facilitator helping clients navigate the ins and outs of the like-kind exchange process. Our qualified intermediaries have twenty years of experience helping clients save money in capital gains taxes under section 1031 of the Internal Revenue Code. Contact us today to learn more about how we can help you with your exchange of real estate. We are located in downtown Minneapolis and serve the entire Twin Cities metro, greater Minnesota, and the United States at large.
