Tom Osborne Broker 850 862-0683 Osborne Realty - www.emeraldcoastrealestate.com

1031 Exchange Information

Office Location
227 McArthur Ave, N.W.
Ft. Walton Beach, FL 32548
Phone (850) 862-0683
Fax (850) 862-9013

Any property held for investment or used to produce income can be exchanged for any other investment or income producing property. This applies to rental homes, apartment and commercial buildings, strip and shopping centers, raw and farm land, timber, unharvested crops, oil, gas and mineral interests, collectibles if held for investment, livestock, corporate aircraft and ships, tenants-in-common, sale leaseback transactions, leasehold interests and improvements to be constructed.

Property excluded from non-recognition treatment are personal residences, inventory, land under development, fix/flips for resale, stocks, bonds or notes interests in partnerships, certificates of trust or beneficial interests.

Though the Internal Revenue Service (IRS) does not stipulate a specific holding period, it is their position that if the Exchangor’s property was acquired immediately before the exchange, the Exchangor acquired the property primarily to dispose of it, rather than hold it for productive use or investment. If the replacement property is disposed of immediately after the exchange, it was not held for qualified purposes. Time is one of the factors in determining the intent of the Exchangor. It is suggested the property is held for a minimum of one year and one day. The shorter the time, the stronger the events must be to substantiate proper intent.

Contact Tom Osborne at (850) 862-0683 or for more information.

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