What is a 1031 Exchange?
A 1031 exchange is the process of a sale property exchanging for a new investment property. As long as this transaction is a “trade up” in value and debt, taxes are completely deferred.
Section 1031 of the Internal Revenue Code is one of the last great tax shelters for investors. The seller pays capital gains taxes with the sale of investment real estate. In some cases, capital gains can be as high as 25 percent. By performing a 1031 exchange, investors can defer the payment of these taxes.
When does a 1031 exchange have to be completed by?
You have 180 days from when you sell your property to close on a replacement property in a standard exchange. A standard exchange presumes you are selling first, then buying. Click here to learn about all the types of 1031 exchanges, including reverse exchanges where you buy a replacement property first and then sell your current property.
WHY CHOOSE MIDLAND 1031
As a Qualified Intermediary, Midland 1031 has processed over 15,000 exchanges in the last 25 years. We are excited to help you facilitate your 1031 exchange.
We started in the fall of 1997 in a 690-square-foot office on Sanibel Island, Florida. Since then, we have grown in size and experience. We have state-of-the-art technology, smart data security, and the guaranteed best client service. Our staff has over over 50 years of combined experience in 1031s and real estate taxation. Currently, Midland has two CES® (Certified Exchange Specialists®) on its team.
Midland is a nationwide 1031 company. We facilitate 1031 exchanges in every state. Florida 1031 exchanges are our specialty. More than half of our exchanges occur in Florida.
When you work with Midland, you are assigned a dedicated 1031 team member from beginning to end. As a result, you’ll work with someone who not only knows your 1031 exchange transaction, they know you. This level of service has helped us build relationships that last beyond the 180-day deadline. Midland 1031 is a member of the Federation of Exchange Accommodators (FEA).
1031 Exchange Calculator
The Midland 1031 Exchange Calculator is an easy tool that you can use to estimate your exchange’s taxable impact. All aspects of your transaction are taken into account to ensure we provide detailed insight into your potential tax savings. You have the option to view and print your full estimated report for your convenience.
Schedule a Meeting
If you are looking to do a 1031 Exchange, get answers to your questions before you get started.
Schedule a virtual meeting with one of our exchange specialists today!