The 1031 exchange was created by Congress to encourage investment and stimulate economic growth by allowing investors to roll their net proceeds into a new property and defer their capital gains taxes. Anyone can avail themselves of the tax-saving benefits of the like-kind exchange. If you are considering a like-kind exchange of property in the Rochester area, contact our team of skilled Minnesota qualified intermediaries today to get your 1031 exchange set up and realize the tax-saving benefits of a like-kind exchange – 612.643.1031.
Minnesota Like-Kind Exchanges
A 1031 exchange is a tax-saving tool available to all taxpayers in the United States. As outlined in the Internal Revenue Code, the 1031 exchange allows an investor to defer the capital gains taxes on the sale of real property (real estate or personal property) as long as they move those net proceeds into a continuing investment of like-kind property. These exchanges must be completed within 180 days after the sale of your relinquished property.
The real benefit of a Minnesota 1031 exchange is you get to avoid a potentially large tax bill, and instead keep that money working for you as it compounds and builds wealth in a bigger property over time.
Rochester 1031 Exchange Resources
Here are some helpful resources to guide you through the like-kind exchange process. If you have any questions about these resources or the 1031 exchange process in general – don’t hesitate to reach out to our Rochester qualified intermediaries.
Like-Kind Exchange Services in Rochester, MN
Give us a call today to speak with one of our Rochester 1031 exchange professionals. Our qualified intermediaries have decades of experience assisting taxpayers with their real estate and personal property exchanges. We can help you find replacement property, prepare your 1031 documents, and answer all of your questions about your like-kind exchange. Contact us today to get your Rochester 1031 exchange started – 612.643.1031.
