1031 exchanges allow you to sell your real or personal property and defer the capital gains taxes, as long as you move the sales proceeds into a replacement property. This allows you to defer your taxes and build your wealth through a continued investment. Pick up the phone and call our Nebraska qualified intermediaries today to get your forward exchange up and running – 877.373.1031.
Forward 1031 Exchanges
A forward 1031 exchange is the most common and standard type of like-kind exchange. In a nutshell, the process works like this. First, the taxpayer sells a piece of property (the relinquished property). Then, they identify new replacement property into which they want to exchange. Finally, they move all of their net proceeds from the relinquished property sale into the new replacement property. When done correctly, this allows the taxpayer to defer their capital gains taxes on the sale of the relinquished property.
Working with a Qualified Intermediary
Working with an experienced qualified intermediary can be the difference between a failed and a successful exchange. When you hire a qualified intermediary to assist you with your exchange, they are your guide throughout all stages of the exchange process. Your intermediary will prepare the necessary 1031 documents and make sure you have everything you need at closing. They will also advise you on the rules surrounding 1031 exchanges, and can make recommendations regarding replacement properties. Watch the video below to learn more about the importance of hiring a qualified intermediary for your exchange:
Nebraska 1031 Exchange Services
Our qualified intermediaries have decades of experience helping taxpayers with their like-kind exchanges of real estate and personal property. A qualified intermediary brings a lot of expertise and knowledge to the table that can help you complete a successful 1031 exchange. On top of preparing all of your documents, and answering any questions you may have, your qualified intermediary will walk you through the exchange process, step-by-step to ensure you have all of your bases covered. Realize the tax-saving benefits of a 1031 exchange by contacting our team of Nebraska qualified intermediaries today – 877.373.1031.