The 1031 exchange is a tax saving method that can be utilized by any taxpayer when selling real property. Contact our South Dakota 1031 exchange professionals today to get started with your exchange – 877.373.1031.
How Does a 1031 Exchange Work?
A 1031 exchange is a method set forth in the Internal Revenue Code for deferring capital gains taxes on the sale of real property. All property involved in a 1031 exchange needs to be used for business or investment purposes (not personal use). When done correctly, a 1031 exchange allows you to defer all your net proceeds taxes by rolling those capital gains into a newer like-kind property. By doing so you continue your investment and avoid a big tax hit. All 1031 exchanges need to abide by the 180 day / 45 day deadlines. The video below explains a bit more about these essential deadlines.
South Dakota 1031 Services
If you are considering availing yourself of the tax-saving benefits of a 1031 exchange, contact our South Dakota qualified intermediaries today. Our 1031 exchange professionals have been facilitating exchanges in the state of South Dakota for decades and have the knowledge to help you through all the steps of your exchange – 877.373.1031.