A 1031 Exchange is a process allowed by the Internal Revenue Service for a taxpayer to dispose of one property and purchase another property and not incur a taxable gain or loss. The IRS guidelines for 1031 Exchanges can be complex, and to avoid possible tax consequences it is important to know how to navigate through the requirements as they are explained in the IRC Section 1031 and regulations.
To help you become more knowledgeable about these requirements, CU Exchange offers a convenient online training program. Each of our training modules helps you understand specific details about tax-deferred exchanges:
Module 1 provides an overview of IRC Section 1031 and the different types of exchanges.
Module 2 describes the different properties that can be exchanged under the guidelines of the Internal Revenue Code and regulations.
Module 3 explains how the assistance of a Qualified Intermediary can benefit you in your attempt to work through the exchange process.
Module 4 illustrates the danger zones you should recognize in order to avoid taxable gain in an exchange.
Module 5 provides a timeline for the reporting requirements and documents that must be filed for an exchange.
Disclaimer: Nothing contained herein is given or intended to be interpreted as tax or legal advice.
Please consult your tax or legal advisor before proceeding with a 1031 exchange.
