RE/MAX Results – Commercial Group has been working on 1031 tax exchanges for commercial real estate properties in the Minneapolis/St. Paul, Minnesota 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.