Longhorn 1031

The word “boot” can sound a little confusing when you first hear it in connection with a 1031 exchange. Simply put, boot refers to money or other value received in an exchange that doesn’t qualify for tax-deferred treatment. Cash is one of the most common examples, but certain differences in debt or other non-like-kind property

A common misconception about 1031 exchanges is that you must exchange one property for another property that looks almost exactly the same. That’s not necessarily the case. Under the 1031 rules, many types of real property can qualify as like-kind if the properties are held for investment or for productive use in a trade or

One of the biggest things to remember on a 1031 exchange is the 45-day identification deadline. Usually you have 45 calendar days from the date of the sale of your investment property to identify the property or properties you intend to purchase as your replacement. Maybe you have plenty of time, but those days can

If you’re doing a 1031 exchange, one of the first people you’ll probably work with is a Qualified Intermediary (QI). But what does a QI do, and why do we need one? A Qualified Intermediary is a third party that assists you with your 1031 exchange. They hold the proceeds of the sale of your

One of the most important parts of a 1031 exchange is understanding what “like-kind” actually means. It sounds complicated, but the basic idea is pretty simple: the property you sell and the property you purchase must both be held for investment or business purposes. The good news is that “like-kind” is broader than many people

If you are considering a 1031 exchange, you’ve probably heard of the 180-day rule. This is just the amount of time you have to buy your replacement property after you’ve sold your original property. Typically, under Section 1031, you have 180 days from the date you transfer your relinquished property to receive the replacement property.

One of the most crucial deadlines to grasp in a 1031 exchange is the 45 day identification period. When you sell your original investment property, you generally have 45 calendar days to identify the property or properties you want to buy as your replacement property. The 45-day period starts on the day after the sale

If you own an investment property and are considering selling it, you may have heard the term “1031 exchange”…But what is it? A 1031 exchange allows you to sell an investment property and defer the payment of capital gains taxes by buying another property that qualifies. It is named after Section 1031 of the Internal

The three-property rule allows you to identify up to three different properties within the first 45 days and then close on one, two or even all three of them within the remaining 135 days….

Let’s say you have an entity by the name of Shan & Um LLC, a Texas limited liability company and it owns property that you intend on selling as a relinquished property to 1031 exchange in…..