1031 Exchange Resources
Exchange Topics
- “Tax Straddles” – Navigating the Complexities of an Exchange Spanning Two Tax Years
- USING A REVERSE 1031 EXCHANGE AS A STRATEGIC INVESTMENT TOOL
- Using 1031 Funds for a Deposit
- 1031 Exchanges: FIRPTA Made Simple
- Same Taxpayer Requirement
- 1031 Checklist
- Frequently Asked Questions
- The Benefits of a 1031 Exchange
- 1031 Steps
- Common Questions
- 10 Common Misconceptions about 1031 Exchanges
- 1031 Exchange Overview
- Balancing the Exchange
- Final Regulations Defining “Real Property” for purposes of IRC Section 1031 Exchanges
- Seller Financing and 1031 Exchanges
- Can I use a §1031 Exchange to Acquire Real Estate Outside of the U.S.?
- 1031 Exchanges and State Tax Withholding on the Sale of Real Property
- What Transactional Costs can I Pay with my 1031 Exchange Funds?
- When does the Transfer of Real Property actually occur for 1031 Exchange Purposes?
- “Like Kind” Property
- Why Complete a Reverse Exchange?
- Cooperation Clause
- Cooperation Clause – Reverse Exchange
- Closing Costs
- Exchange Structures
- Reverse Exchanges
- Improvement Exchanges
- 1031 Exchanges & S-Corporations
- 1031 Exchanges and the Foreign Investment in Real Property Tax Act
- When Do Vacation Properties and Second Homes Qualify for a 1031 Exchange?
- Can I 1031 Exchange My Vacation Home?
- Converting 1031 property into a property for personal use
- A 1031 Exchange is good for both the client and broker
- Same Taxpayer Requirement for Spouses
- 1031 Exchanges that Span Two Tax Years – Extending your Tax Return Deadline to Preserve your Timeline
- It is never too early to prepare for a 1031 Exchange
- Owner Carried Financing in 1031 Exchanges
- Best of Both Worlds – IRC §121 and IRC §1031
- Renting to a Relative
- Zero-Coupon 1031 Exchanges
- How to Identify Replacement Property
- Connecticut 1031 Protection Act
- Qualified Intermediary Due Diligence
- Tenants in Common – New York Law Journal
- Do CO-OPS Qualify?- New York Law Journal
- 1031 Exchanges and Primary Residences
- Effects of the Housing & Economic Recovery Act of 2008
- What is the 3.8% “MEDICARE TAX” or NET INVESTMENT INCOME TAX (“NIIT”)?
Legal 1031 Articles on State Tax Issues
- 1031 Exchange Considerations for non-resident taxpayers selling Maryland real estate
- Pennsylvania Conforms its State Tax Code to Federal §1031
- New Jersey §1031 Exchange Issues: The Bulk Sales Law and GIT-REP Requirements
- Massachusetts State Tax Claw-Back Provisions for IRC §1031 Exchanges
- New Jersey Bulk Sales
- California Claw Back
IRS and State Forms
As a courtesy to our clients and their advisors, for reference and information purposes only, Legal 1031 is providing the following forms, links, related guidance, and articles regarding state and federal tax issues related to 1031 exchanges. While Legal 1031 will make every effort to keep this reference page current, exchangers and their advisors should verify that any form or information contained herein is current, accurate, and applicable to their individual situation. Legal 1031 does not warrant or guarantee the information, content or accuracy of any forms or guidance contained herein, nor are we providing legal or tax advice, opinions, or representing that any form is applicable or necessary. Taxpayers must review their specific situations and state and federal reporting requirements with their independent tax advisor.
- IRS Form 8824 – Like-Kind Exchanges
- IRS Form W-9 – Request for Taxpayer Identification Number and Certification
- IRS Form W-7 – Application for IRS Individual TIN
- IRS Form SS-4 – Application for EIN
- IRS Form 1040 – US Individual Income Tax Return
- IRS Form 1065 – US Return of Partnership Income
- IRS Form 4797 – Sale of Business Property
- IRS Form 4868 – Application for Automatic Extension of Time to file US Individual Income Tax Return
- IRS Form 6252 – Installment Sale Income
- ITIN Guidance for Foreign Property Buyers/Sellers
- IRS Form 8288 – US Withholding Tax Return for Dispositions by Foreign Persons of US Real Property Interests
- IRS Form 8288-A – Statement of Withholding on Dispositions by Foreign Persons of US Real Property Interests
- IRS Form 8288-B – Application for Withholding Certificate for Dispositions by Foreign Persons of US Real Property Interests
- IRS Form 8949 – Sale and Other Dispositions of Capital Assets
- Opportunity Zone Website
- Opportunity Zone FAQs
- Revenue Procedure 2018-16 - Qualified Opportunity Zones
- Revenue Ruling 2018-29 - Special Rules for Capital Gains Invested in Opportunity Zones
- IRS Form 8996 – Qualified Opportunity Fund
- IRS Form 8997 - Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments
- TD 9889 - Investing in Qualified Opportunity Funds - Final Regulation
- Notice 2020-39 - Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Coronavirus Disease 2019 Pandemic
- NY Form IT-2663 – Nonresident Real Property Estimated Income Tax Payment Form
- NJ Form C9600 – Notification of Sale, Transfer, or Assignment in Bulk (NJ Bulk Sales Notification)
- NJ Asset Transfer Tax Declaration ATTD (Bulk Transfers)
- NJ GIT/REP-1 Nonresident taxpayers
- NJ GIT/REP-3 Seller’s Residency Certification/Exemption
- CA Form 593- Real Estate Withholding Statement
- CA Form 3840 - CA Like-Kind Exchanges
- California Like Kind Exchanges, filing requirements and tips for correct reporting (Published 2018)
- CA Real Estate Withholding Guidelines - FTB Publication 1016
- CA Claw back rule - CA Taxation of Non-Residents and Individuals who Change Residency - FTB Publication 1100
(For California property exchanged for out of state property, See Section F.)
- MD Form MW506AE - Application for Certificate of Full or Partial Exemption
IRS and State Tax Guidance
As a courtesy to our clients and their advisors, for reference and information purposes only, Legal 1031 is providing the following forms, links, related guidance, and articles regarding state and federal tax issues related to 1031 exchanges. While Legal 1031 will make every effort to keep this reference page current, exchangers and their advisors should verify that any form or information contained herein is current, accurate, and applicable to their individual situation. Legal 1031 does not warrant or guarantee the information, content or accuracy of any forms or guidance contained herein, nor are we providing legal or tax advice, opinions, or representing that any form is applicable or necessary. Taxpayers must review their specific situations and state and federal reporting requirements with their independent tax advisor.
- IRS Publication 17 – Your Federal Income Tax for Individuals
- IRS Publication 515 – Withholding of Tax on Nonresident Aliens and Foreign Entities
- IRS Publication 527 – Residential Rental Property, Including Vacation Homes
- IRS Publication 334 – Tax Guide for Small Businesses
- IRS Publication 537 – Installment Sales
- IRS Publication 541 – Partnerships
- IRS Publication 544 – Sales and Other Dispositions of Assets
- IRS Publication 550 - Investment Income and Expenses
- IRS Publication 551 – Basis of Assets
- IRS ITIN Guidance for Foreign Property Buyers/Sellers
- IRS Guidance on Single Member Limited Liability Companies (SMLLC)
- IRS Publication 1635 – Employer Identification Number – “Understanding Your EIN”
- IRS Guidance on Single Member LLCs – Taxpayer Identification Numbers and EINs
- NY RETT advisory opinion Dec. 7, 2016 – exempts EAT from having to pay double transfer tax in NYS
- FTB Notice 2019-05 – presents California Franchise Tax Board opinion on installment sales transactions in relation to a rescue mechanism for failed or partial 1031 exchanges
Customizable Handouts
Please feel free to add your contact information to the below customizable handouts/informational flyers which you can send to potential real estate investors or other contacts that would benefit from the information. Just type your contact information in the lower right-hand corner in the box provided and save the document as a PDF.
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- 1031 Checklist
- IRC §121 and IRC §1031
- Closing Costs
- Common Questions
- Cooperation Clause
- Cooperation Clause - Parking Exchanges
- Exchange Structures
- Can I 1031 Exchange My Vacation Home?
- Converting 1031 Property to Personal Use
- Never Too Early to Prepare for a 1031
- Reverse Exchanges
- Improvement Exchanges