Get the free Basic Section 1031 Tax-Deferred Exchanges Registration Form

Registration form for the ATG Trust Company's program on tax-deferred exchanges, aimed at attorneys and legal professionals.

How to fill out basic section 1031 tax-deferred

How to fill out Basic Section 1031 Tax-Deferred Exchanges Registration Form

1. Obtain the Basic Section 1031 Tax-Deferred Exchanges Registration Form from the appropriate tax authority or online.
2. Fill in your personal information, including your name, address, and contact details in the designated sections.
3. Provide details about the property you are selling, including its address and description.
4. Include information about the replacement property you intend to acquire, if applicable.
5. Indicate the dates of property acquisition and sale.
6. Review the form for accuracy, ensuring all required fields are filled out correctly.
7. Sign and date the form to certify the information provided is true to the best of your knowledge.
8. Submit the completed form to the relevant tax authority by the specified deadline.

Who needs Basic Section 1031 Tax-Deferred Exchanges Registration Form?

1. Anyone planning to defer capital gains taxes through a like-kind exchange of real estate under Section 1031 of the Internal Revenue Code.
2. Real estate investors and property owners looking to exchange investment properties for tax benefits.
3. Taxpayers who are engaged in the buying and selling of qualified properties and seek to utilize the 1031 exchange regulations.

People Also Ask about

How much does it cost to do a 1031 exchange?

In most exchanges we can charge a flat fee which includes drafting all required 1031 documents and guiding you through the process. We can assist in most routine 1031 exchanges for a fixed fee of $925. Intermediaries will charge separately for their services but oftentimes their fees are near $300.

How to defer capital gains without doing a 1031 exchange?

Structuring a property sale through a deferred sales trust can provide an alternative to a 1031 exchange for managing capital gains taxes from the sale. Deferred sales trusts can offer tax benefits by leveraging the tax treatment afforded to an installment sale under Internal Revenue Code §453.

What is the basis of a 1031 exchange?

The basis of property acquired in a Section 1031 exchange is the basis of the property given up with some adjustments. This transfer of basis from the relinquished to the replacement property preserves the deferred gain for later recognition.

What is the 95% rule in a 1031 exchange?

The 95% Rule allows an investor to identify an unlimited number of potential replacement properties, without regard for valuation, provided they actually acquire 95% of the aggregate identified value within the exchange period.

What is an example of a 1031 exchange?

While searching for a replacement, you find a property you want to buy. But it's valued at $700,000. In that case, you contribute $200,000 out of pocket and purchase the replacement with a $300,000 loan and $400,000 of cash. Like this, you can still defer taxes since you satisfy the two basic requirements.

What are the requirements for a 1031 exchange?

Eligibility for a 1031 Exchange is dependent on the exchange's timeline and the Same Taxpayer Rule. To qualify, the replacement property must be identified within 45 days, and the exchange must be completed within 180 days of the relinquished property's transfer. (26 U.S.C.A.

What is the 200% rule for 1031?

The Regulations allow identifying multiple properties. A Taxpayer may identify as many as 3 alternate properties of any value. If more than 3 properties are identified, the value of the 3 cannot exceed 200% of the value of the Relinquished Property unless 95% of the properties identified are acquired.

For pdfFiller’s FAQs

What is Basic Section 1031 Tax-Deferred Exchanges Registration Form?

The Basic Section 1031 Tax-Deferred Exchanges Registration Form is a document used by taxpayers to report the completion of a Section 1031 exchange, which allows them to defer capital gains taxes on the exchange of investment or business properties.

Who is required to file Basic Section 1031 Tax-Deferred Exchanges Registration Form?

Taxpayers who have engaged in a Section 1031 exchange of like-kind properties are required to file the Basic Section 1031 Tax-Deferred Exchanges Registration Form to report the exchange to the IRS.

How to fill out Basic Section 1031 Tax-Deferred Exchanges Registration Form?

To fill out the Basic Section 1031 Tax-Deferred Exchanges Registration Form, taxpayers must provide detailed information about the properties involved in the exchange, including the purchase and sale prices, the dates of the transactions, and the parties involved.

What is the purpose of Basic Section 1031 Tax-Deferred Exchanges Registration Form?

The purpose of the Basic Section 1031 Tax-Deferred Exchanges Registration Form is to ensure compliance with IRS regulations and to document the transactions necessary for deferring capital gains taxes through a qualified exchange.

What information must be reported on Basic Section 1031 Tax-Deferred Exchanges Registration Form?

The information that must be reported on the Basic Section 1031 Tax-Deferred Exchanges Registration Form includes the taxpayer's identification details, description of the relinquished and replacement properties, dates of the exchanges, and any related financial details of the transactions.