Our Las Vegas 1031 Exchange specialists have assisted international investors in one of the most diversified markets in the world. Our agents have over 20+ years, hand on experience in helping you locate and finalize your 1031 Exchange fast and with the least amount of hassle.
We have a proven track record of helping clients like you identify properties and get the paperwork done correctly 100% on time with-in 90 Days or less. We have closed in as little as 10 days.
If you are in need of experienced agents for your 1031, then you are in the right place.
1031 Exchange Las Vegas Specialists
A like-kind exchange under United States tax law, also known as a 1031 exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset.
1031 Exchange Las Vegas Companies
A like-kind exchange can involve the exchange of one business for another business, one real estate investment property for another real estate investment property, livestock for qualifying livestock, and exchanges of other qualifying assets. Like-kind exchanges have been characterized as tax breaks or "tax loopholes".
50%+ of Our 1031 Exchanges Have Been for High Rises Condos or Condo Hotels Due to Over 24 Billion in Development from Raiders Stadium to the New Madison Square Garden and Convention Center.
This kind of transaction is also called a "1031 exchange", because Internal Revenue Code section 1031 of the U.S. Internal Revenue Code allows owners of certain kinds of assets to defer capital gains taxes on any exchange of like-kind properties. Both the relinquished property and the acquired property must be like-kind, and must be held for business or investment purposes.
The sum of assets of each side of the exchange must be equal in value. Taxes on capital gains are not charged upon sale of a property if a qualifying replacement property is acquired. The transaction has to be properly structured, including that the taxpayer cannot be deemed to have actually or constructively received the sales price of the relinquished property.
To avoid "constructive receipt" of the sales proceeds, a neutral party is often used to maintain the sales proceeds out of the reach of the taxpayer. The replacement property generally must be "identified" within 45 days of when the original property is transferred, and must be "acquired" within 180 days of when the original property is transferred. If the transaction is handled properly, the payment of tax is deferred until the replacement property is later sold with no reinvestment in a qualifying property.
The idea behind this section of the tax code is that when an individual or a business sells a property to buy another, no economic gain has been achieved. There has simply been a transfer from one property to another.
For example, if a real estate investor sells an apartment building to buy another one, he or she will not be charged tax on any gains he or she made on the original apartment building. When the investor sells the original apartment building and purchases a new one, the value used from the original to buy the new one has not changed – the only thing that has changed is where the value resides.
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If you do not specifically follow the rules for like-kind exchanges, you may be held liable for taxes, penalties, and interest on your transactions.
We recommend you consult with one of our trained agents who have done 1031 exchanges successfully and can help you navigate and accomplish your goals.
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How do you report Section 1031 Like-Kind Exchanges to the IRS?
You must report an exchange to the IRS on Form 8824, Like-Kind Exchanges and file it with your tax return for the year in which the exchange occurred.
Form 8824 asks for:
- 1031 Las Vegas Descriptions of the properties exchanged
- Dates that properties were identified and transferred
- Any relationship between the parties to the exchange
- Value of the like-kind and other property received
- Gain or loss on sale of other (non-like-kind) property given up
- Cash received or paid; liabilities relieved or assumed
- Adjusted basis of like-kind property given up; realized gain
1031 Exchange Las Vegas Las Vegas High Rise Condo Communities & Options:
Las Vegas high rise condos for sale have been a majority of our clients identified properties due to the dynamics of the market in terms to location, history and inventory. The is just an idea of what is available in the Las Vegas real estate market. If you want to buy and sell personal property held as active listings, contact us for professional advice to help determine your financial strength for this move.
Searches Related to 1031 Exchange Las Vegas
- Condos for Sale in Las Vegas
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- Las Vegas High Rise Condos
One Las Vegas
PANORAMA | The Martin
Freemont Street/Art District: Located in the old historic area downtown.
Las Vegas CONDO HOTELS: Own your own room with option for rental pool.
Las Vegas High Rise Condos are by Appointment Only… Call 702-882-8240
(financing available on select towers, call for details)
We Specialize in Las Vegas 1031 Exchange