Obstacles to Avoid for a Successful 1031 Exchange By David Gorenberg, JD, CES Many investors decide that they want to structure their real estate transactions as a 1031 Exchange, without knowing all of the steps and hurdles they can encounter along the way. But being well-informed before the sale of the first property is critical to the success of a1031 Exchange. Here we will discuss some common obstacles people face in a 1031 Exchange, all of which can be avoided by planning early. Not Using a Qualified Intermediary Some taxpayers believe, mistakenly, that leaving the exchange funds at the title…
Author: David Gorenberg
David Gorenberg
A dedicated and successful professional, David Gorenberg has over twenty years of experience in business development and public speaking. His dynamic personality enables him to make effective presentations to groups both large and small, at all professional levels. David contributes regularly to Accruit's blog and hosts webinars to share his knowledge on 1031 exchanges. Read more about him here: https://www.accruit.com/about/meet-team/david-gorenberg
1031 Exchanges; Are Multiple Relinquished Properties Allowed? By David Gorenberg, JD, CES Exchangers often ask whether they can start a 1031 exchange by selling an investment property, and then sell a second investment property as part of that same exchange, after the 45-day identification period closes. The short answer is yes. The typical Internal Revenue Code Section 1031 states that “no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held…
