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Independent Owner Operated Company |
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1031 Tax
Deferred
Exchange
NOTICE
TO OWNERS OF
RENTAL
PROPERTY
Were you aware that you may be able to EXCHANGE your second home or investment property for a larger or newer property? That's right! Section 1031 of the Internal Revenue Code now allows individuals, partnerships, corporations and trusts to defer their capital gains tax when they EXCHANGE investment property for other real estate in the United States.
People EXCHANGE because motivations for owning property change. What may have been a good real estate investment before may not be as good as new real estate investment now. Maybe you would like property that provides monthly income. Maybe you would like property that provides additional tax write-offs on the interest and/or depreciation. Maybe you would like property that you can borrow against (leverage). Maybe you would like a property that better fits your current needs.
With the recent improvements to 1031 EXCHANGES they are now easier and more flexible than ever before. If your tax deferred EXCHANGE is structured properly you can now improve your real estate investment and utilize IRC Section 1031 to defer all or part of your capital gains tax.
There are qualified intermediary services specializing solely in tax-deferred EXCHANGES. Their only business is to provide information and accommodation services for 1031 EXCHANGES. Should you need the advice or services of an attorney, accountant, financial planner, title, escrow or loan officer you should contact these people directly.
For additional information on EXCHANGES or for a free "easy-to-read" booklet on EXCHANGES simply call our "EXCHANGE Answerline". Just remember CALL Tom at 800-563-8253, no charge for the information or the booklet.
For more info, e-mail: info@coloradovacationproperty.com (subject: 1031 info)
©Mountain Country Real Estate February 21, 2006, All Rights Reserved