1031 Exchange Knowledge Base Info

Hmm. There few circumstances where your 1031 Exchange Qualified Intermediary would not give you your money. Remember, during your 1031 Exchange period you MAY NOT have direct access to your funds. The purpose of the 1031 Exchange is to convey your investment from one property to another. You cannot be given the money directly without becoming in Constructive Receipt of your funds. However, if all of Identified Replacement properties have closed, you should have no problem getting any remaining funds (boot) back from your exchange to spend as you please. Just remember any remaining funds from a 1031 Exchange are almost always subject to the Capital Gains Tax.

This entry was posted on Sunday, August 28th, 2011 at 12:36 pm and is filed under 1031 Exchange. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.