1031 exchanges can help any taxpayer sell defer capital gains taxes when selling real estate. If you are considering a 1031 exchange of property in New Brighton, or the surrounding Twin Cities area, call our team of MN qualified intermediaries to get your 1031 exchange set up – 612.643.1031.
Defer Capital Gains Taxes with a 1031 Exchange
1031 exchanges offer every US taxpayer the option of deferring their capital gains taxes on the sale of real property. However, in order to qualify for tax deferral you need to meet certain criteria. First and foremost, your property needs to be held for a qualifying purpose of investment or business use. Secondly, you need to reinvest all of your net proceeds from the sale into a new replacement property rather than pocketing that money. In addition to that, there are a variety of time frames and other rules you have to abide by in order to complete a successful exchange.
At Commercial Partners Exchange Company, we facilitate 1031 exchanges throughout the state of Minnesota, including the cities of: New Brighton, Shoreview, Arden Hills, Circle Pines, Lino Lakes, Fridley, and more!
New Brighton 1031 Exchange Resources
There are a lot of things that can go wrong in a 1031 exchange if you don’t fully understand the process and the associated rules. The first thing you should do is familiarize yourself with some of the basics of the 1031 exchange. With that in mind, we have compiled a quick list of helpful online resources. Click on the links below for more information.
1031 Intermediaries in New Brighton, MN
Section 1031 of the Internal Revenue Code is a powerful provision that allows any US taxpayer to defer their capital gains on the sale of real estate, so long as they meet certain benchmarks. Reach out to our qualified intermediaries today to learn more about how we can help you with your next 1031 exchange. You can find us at our primary office in downtown Minneapolis, or at one of our many satellite offices located throughout the United States.