Identifying 1031 Exchange Properties
The IRS is very strict when it comes to the applications of rules that govern 1031 exchanges. There are codes and regulation that IRS has set for any exchange to take place but many of the exchanges fail because the investors fail to meet all the requirements.The main mistake made by many investors is the identification of the replacement property. To avoid making any mistake as an investor when categorising 1031 exchange properties, there are some things you should be keen to undertake. Many details should be put in place when categorising exchange properties. Without understanding the requirements for identification of exchange property it is very likely the planned exchange may be jeopardised.
Guidelines for Identifying Exchange Properties
There are rules set for 1031 exchange properties. An investor can identify various rule put in place on the number of investment exchange properties. planned exchange should follow …