Fraxioned will work with you and your accounting/legal team to satisfy the requirements under IRS section 1031. We strongly recommend the use of a professional team to ensure that the exchange is not disqualified.
In general terms, you can avoid recognizing a gain on a property if there is an exchange for another like-kind property and if you meet the other conditions from the IRS.
Taking control of the proceeds from your asset sale before the exchange is complete will likely disqualify the entire transaction and make the gain immediately taxable. The best way to avoid the receipt of proceeds is to use a qualified intermediary to hold those proceeds until the exchange is complete.
Taxes on capital gains are as follows:
To have a successful exchange, you must consider these 2-time limits:
IRS rules allow you to name more than one replacement property. There are 3 rules to consider:
*For more information about how Fraxioned can assist you in your 1031 exchange, contact us at: sales@fraxioned.com
Fraxioned is committed to protecting and respecting your privacy. By completing this form, you agree to the Fraxioned terms of use and privacy policy.