1031 Forms

Written by Linda Alexander
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Active investors might consider purchasing 1031 software for completing forms and paperwork. Usually, though, this professional software is reserved for exchange companies, real estate attorneys, qualified intermediaries, and other real estate professionals who specialize in 1031 exchanges. It contains many 1031 forms that you might need to facilitate a 1031 exchange of like kind property.

Forms to Learn From

You can also download the forms you need off the Web. If you are experienced at completing 1031 exchanges, you might feel comfortable acquiring the forms yourself, or you might just be interested in reading them for your own education. The like kind exchange agreement would be used in a forward exchange, while you would use the qualified exchange accommodation agreement for a reverse exchange.

You also have to give notice of identification of relinquished property and of replacement property, and there are forms for those. There are forms for assignment of relinquished property contracts as well as assignment of replacement property contracts. Of course, you will also need several different IRS forms to document your exchange and prove that you are legally deferring tax.

The exchange company you use to help you sell your relinquished property and locate suitable replacement property will have all the 1031 forms you need to complete your exchange. Don't leave it to chance--allow a professional to handle your transaction. They are there to make your life easier and your transfer smoother. But if you are curious, you can familiarize yourself with the various exchange documents available in exchange software and on the Internet.

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