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A WORD ABOUT THE 1031 QUIZ

Most 1031 exchanges are pretty straightforward. Sell your old property and identify new property within your 45 day ID window, and then close everything within 180 days. However, there are transactional nuances and logistical details which can influence the success of your exchange. Often these are items which can be overcome with an expanded knowledge of Section 1031 or through the experiential benefit of completing several exchages so you know the importance of 1031 planning and preparation.

With that in mind, let's take a trip through som eof the rules and pitfalls of 1031 exchanging, and along the way test your knowledge and equip you for the future.! Good luck with the 1031 QUIZ!

Add some music to your challenge.

GET A PRIZE FOR THIS BONUS QUESTION!

Most property owners are familiar with the personal residence rules where you can exempt up to $250,000 in capital gain for a single person, or $500,000 for a couple, for a personal residence in which they resided for two of the last five years, when sold. For properties which meet the requirements of both Section 1031 as well as the personal residence rules, can the benefits of both approaches be combined for the benefit of the investor?