RE/MAX Results – Commercial Group has been working on 1031 tax exchanges for commercial real estate properties in the Minneapolis, St. Paul, MN metro for over 15 years. As Brokers, it’s our job to keep the 1031 tax exchange on-track which includes working directly with the Qualified Intermediary, reviewing available replacement options and inventory, and successfully completing the exchange with the like-kind investment.
1031 tax exchanges are a well-established, IRS approved way to sell commercial real estate and defer paying on the capital gain and depreciation recapture. Naturally, there are a few very important rules and regulations a Seller/Buyer must adhere to. But, for commercial and investment owners who have a potential large gain through market appreciation or a potential significant tax consequence due to recapture of depreciation, a 1031 tax exchange can be an excellent wealth & legacy building strategy via tax deferment.
If you’d like to discuss a forward or reverse 1031 tax exchange and how we can help, please contact our Managing Broker, Mark Hulsey.