JR1 wrote:Oh, I'll disagree with the good Cap'n, I do believe it's a requirement. And if you're not saving enough in deferred taxes to justify it, why bother?
gatortaxguy wrote:There is no requirement in 1031 or the regs that there be an intermediary. Whether it's a good idea or not depends on the circumstances. For example, an intermediary would not be appropriate for a contemporaneous exchange or a transfer of property in exchange for a promise to transfer property later.
gatortaxguy wrote:1031, so long as you meet the 45 and 180 day requirements.
JR1 wrote:And don't touch the money, or maybe even have the right to?
Wiles wrote:Correct. All you need to do is put contracts in place with an unrelated party to prohibit your access to those funds. You also want to make sure the contracts protect you and "your money". There are companies that specialize in this service for a nominal fee, e.g. $750 - $1,500
gatortaxguy wrote:I'd go further and say the transaction qualifies for 1031 treatment even if the time periods are missed. That is, the time periods are merely for a safe harbor.
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