Uncategorized – Prime West Exchange, Inc.

Start an Exchange

With the help of an expert, starting a 1031 Exchange can be hassle-free. If you have an interest in saving money through investments, you are already well on your way to starting an exchange. Once you’ve decided to pursue a 1031 Exchange, contact the experts at Prime West Exchange. Even if you are still uncertain…

Exchange Terminology

1031 Exchanges, or tax-deferred exchanges under IRC §1031, have their own language. Like other areas of law, this language might be confusing to those unfamiliar with this specific type of transaction. Following are some important terms and phrases that can help break down 1031 Exchanges. Adjusted Tax Basis – Tурісаllу the іnіtіаl аmоunt paid for…

Exchange Basics

Whether you’re an established real estate investor or enthusiast, you’ve probably heard of a 1031 Exchange. As the name implies, the process involves exchanging one old “relinquished” property for a new or “replacement,” property. You will reinvest the proceeds from the sale of your investment property into a like-kind investment property to defer paying capital…

What is a 1031 Exchange?

A 1031 Exchange is a transaction in which a taxpayer may exchange one investment property for one or more properties, deferring the tax consequences of a sale. Does a 1031 Exchange work with personal property? No. Onlу, Rеаl Eѕtаtе (also known as ‘real property’) that is hеld “for investment purposes” quаlіfіеѕ fоr a 1031 Exchange. …

How to Identify a Replacement Properties in a 1031 Exchange

Identifying new or “replacement” properties for a 1031 Exchange requires a working knowledge of tax requirements and protocol. Knowing your limitations and restrictions can make your exchange go more smoothly and efficiently. Thus, it is important to talk to a qualified expert to get the counsel you need to move forward with your exchange and…

1031 Exchange Requirements

Like all tax transactions, a 1031 Exchange requires an expert eye to ensure it is taking place legally and efficiently. You will want to talk with a qualified intermediary, accountant, or attorney about your options in pursuing a 1031 Exchange before making any decisions. However, by educating yourself now with some of the common requirements…