1031 Exchange for Oklahoma Investors

What is a 1031 Exchange? When an Oklahoma investor sells a property they may be subject to a significant capital gain tax. If however an Oklahoma investor exchanges the investment property for another they may be able to qualify for a 1031 Exchange, protecting themselves from the tax and increasing their return on investment by giving more leverage. The IRS Code 1031 states: "No gain or loss shall be recognized on the exchange of property held for productive use in a trade of business or for investment is such property is exchanged solely for property of like-kind which is to be held either for productive use in a trade or business or for investment." How does an exchange qualify for a 100% tax deferral? Buy replacement property that is equal or greater in value than the net sales price of the relinquished property & spend all the money.
What is a Qualified Intermediary? A QI is the entity that will facilitate the exchange. They cannot be a related party. They receive the relinquished property from the taxpayer then sell it to the buyer. They then purchase the replacement property from a seller then transfer to the taxpayer. Questions to ask when choosing a QI: In whose name will the funds be held? What are the requirements for deposit and withdrawal? Where are the exchange funds held? Is the QI insured by a larger parent company?	I understand the time lines associated with identifying 1031 Exchange properties in Oklahoma and can help Oklahoma investors, like you, identify replacement properties quickly. Consult your accountant or attorney to determine if a 1031 Exchange is appropriate for you. If it is call me with your exchange requirements and I will begin the search for possible replacement properties right away.
45/180 Day Requirements Calendar Capital Gain Tax Calculator

Edmond REALTOR, Kristyn Grewell of CENTURY 21 Goodyear Green,
specializes in residential real estate in Edmond, Oklahoma and the OKC metro.

For information contact Kristyn today:

405-359-7400 ~ kristyn.grewell@century21.com

CENTURY 21 Goodyear Green 2300 S. Broadway Edmond, OK 73034

Each Office Is Independently Owned And Operated.

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