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A 1031 exchange lets you sell investment real estate and defer the capital gains tax and depreciation recapture by rolling the proceeds into another investment property. In this episode we break the whole thing down from the seller's side, both ends of the deal, in plain kitchen-table language.
Quick disclaimer first. I am not a CPA or a tax attorney. I am a licensed Santa Clarita real estate agent and this is general education, not tax advice. A 1031 has hard deadlines and strict rules, so hire a qualified intermediary before you close and run your exact numbers with your own tax professional.
Here is what we cover. What qualifies and why your primary residence does not. The broad like-kind rule. The qualified intermediary and the reason you can never touch the money. The two clocks that run together, 45 days to identify and 180 days to close. The three identification rules. The money math, buy equal or greater, reinvest all equity, replace your debt, or pay tax on the boot. The down leg and the up leg. Delayed, reverse, and improvement exchanges. The California clawback and the annual FTB Form 3840. And the long game, swap till you drop, and the step-up in basis at death that can erase the deferred tax for your heirs. We close with a short buyer's perspective so you know what to watch for on the other side of the table.
Watch the video: https://youtu.be/ipbr_Zqwwrk Seller's Only Agent, $17,000 flat: https://sellersonlyagent.com More: https://connorwithhonor.com
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From first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my YouTube channel for valuable tips, local market trends, and a glimpse into the Santa Clarita lifestyle.
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