1031 Intermediary Near Me
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▷About 1031 intermediary near me
Find a 1031 intermediary near you today. The 1031 intermediary locations can help with all your needs. Contact a location near you for products or services.
A 1031 intermediary helps facilitate tax deferred exchanges under section 1031 of the Internal Revenue Code. They ensure the exchange meets strict guidelines to defer capital gains taxes. Here are some frequently asked questions about finding a qualified 1031 intermediary in your area.
What is a 1031 intermediary?
A 1031 intermediary is a third party used to facilitate a like-kind exchange. They hold the proceeds from the sale of the relinquished property until you identify and acquire a replacement property to defer capital gains taxes.
How do I find a 1031 intermediary near me?
You can search online for companies that specialize in 1031 exchanges in your city or state. Ask your real estate agent or tax advisor for referrals too. Most major metropolitan areas have several qualified intermediaries to choose from.
What qualifications should an intermediary have?
Look for an intermediary that is a qualified intermediary as defined by the IRS. They should be experienced in handling complex 1031 exchanges and have an attractive fee structure. Ask for references from past clients too.
How much does a 1031 intermediary cost?
Most intermediaries charge a flat fee that is a small percentage of the value of the exchange, usually between $500-5000. Additional charges may apply for things like wire transfers or extension fees if deadlines are missed.
What services should an intermediary provide?
Expect services like review of exchange documents, receipt and disbursement of exchange funds, record keeping, and tax reporting from a full-service 1031 intermediary. They should be available to answer questions throughout the exchange period.
▷How to find 1031 intermediary near me
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