Ricky Novak, CEO of Strategic 1031 Exchange Advisors, a consulting firm and qualified intermediary that provides real estate as well as tax consulting services for clients structuring complex real estate transactions and asset dispositions, joins The Commercial Real Estate Show to discuss more advanced 1031 property exchange (1031 exchange) strategies. Among the topics discussed are the following:
- How taxpayers might use an intermediary to find and purchase a replacement property in advance of selling the property to be exchanged (reverse exchange or reverse 1031 exchange)
- Safe harbor guidance for reverse 1031 exchanges
- Meeting requirements for identifying a replacement property
- Ways that taxpayers might include construction or renovation expense for exchange candidate properties as part of their basis in the 1031 exchange
Related 1031 Exchange Posts with Videos
- The Fundamentals of 1031 Property Exchanges
- CEO of 1031 Exchange Advisors Discusses the Uncertain Future of the 1031 Exchange
- 1031 Exchange Advisors CEO Points out Mistakes to Avoid with 1031 Exchanges