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How did 1031 Exchange do in the New Tax Law?

By Drew McCabe | January 11, 2018

First, the bad news, personal property 1031 Exchanges are, now, not allowed.  If you started your personal property 1031 Exchange prior to January 1, 2018, you can still finish it.  But, moving forward, personal property can no longer receive 1031 Exchange treatment.  This mostly affects fleet exchanges (i.e. semi-trucks and rental cars), antique dealers, airplane owners, heavy equipment, etc.

The good news, however, is that the tax reform does not affect the 1031 deferral of real estate.  Taxpayers can continue to use the powerful investment tool of Section 1031 Exchange for the Exchange of commercial properties, residential properties, industrial properties, vacant, farms, ranches and even mineral interests.

So, while it is unfortunate to see personal property 1031 Exchanges go, it is a relief to many real estate investors to know that the new tax reform does not take away a significant real estate investment tool, the 1031 Exchange of real estate.

For more information please call us at 303.789.1031 or send us an email at info@erg1031.com.

Posted in Press Release, Uncategorized

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Keep up to date with IRS tax relief provided in disaster situations based on FEMA's declarations at the link below. 

Tax relief in disaster situations | Internal Revenue Service (irs.gov)

If you believe you may be in an area that qualifies for IRS Disaster relief, you can confirm via the link, and by confirming with your tax preparer regarding how it could affect your 1031 deadlines.

If you confirm with your tax preparer that you are eligible for an IRS Disaster extension, please reach out to ERG so we can make the necessary updates.

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