3 Important Factors While Choosing A Qualified Intermediary
Real estate has always been and continues to be a hot market. This makes today a perfect time to decide whether or not to buy or sell. However, no matter what you choose, using a 1031 like-kind exchange real estate can help you defer taxes on the sale of your property. This post is a guide to choosing a qualified 1031 intermediary that can provide you with the following advantages. The Work Of A Qualified Intermediary In 1031 Exchange Using a qualified intermediary is a requirement for deferring capital gain taxes through section 1031 exchanges. For instance, at the time of the sale of real estate you want to exchange, you’re not allowed to receive the proceeds directly. The intermediary, therefore, sells the property on your behalf and gets the funds from the sale. It is such because if you receive any money from the sale directly, you’ll have to pay capital gain taxes on that amount. Factors To Consider Before Selecting A 1031 QI * The Experience Does the QI have t...