1031 Pandemic FAQs – Your 1031 Resource

During these unusual times, we have been receiving many 1031 Exchange related inquiries from our IPX1031 community. We are always available to answer questions! Below are some of the most popular:
PANDEMIC 1031 EXTENSIONS (click here for answers)Do I qualify for COVID-19 extensions?What does the COVID-19 extension mean if I am contemplating starting an exchange?Are the COVID-19 extensions automatic or do I need to complete additional paperwork?If I decide not to complete my exchange and want to get my money back from the qualified intermediary and pay taxes, do I now have to wait until July 15th?Will there be a further extensions granted?
If additional extensions are granted, will I need to complete additional documents to qualify?How likely is the IRS to reissue new extensions more in keeping with the traditional 120 day extensions we have seen in the past?Will there be any more updates to the extensions granted? What and when will further information by the Treasury/IRS be released?
1031 FUNDS & SECURITY (click here for answers)Are my 1031 funds held in a separate account?Where are my funds deposited?Is my money safe?1031 IDENTIFICATION DURING THE PANDEMIC (click here for answers)Should I identify more than one property?When is my ID deadline? Is the IRS extending deadlines since I cannot leave my house to look for property? Will I get extra time to identify my replacement properties?What if the replacement property I choose does not close for any reason?How do I find a replacement property if I cannot actually get into the building?What if I cannot find a property in the time frame?1031 MARKET (click here for answers)Are 1031 Exchanges still allowed?Is a 1031 Exchange a good idea given today’s economy?Can I do a 1031 Exchange on my primary residence?Access our IPX1031 Coronavirus Resources page for additional info.
image
IRS Disaster Relief UpdatesOregon Disaster ReliefExtensions Granted – IPX1031 Summary
COVID-19 Disaster Relief
Disaster Relief Deadline Extension As always, exchangers should speak with their tax advisors to determine if they are eligible for an extension.Read more about disaster relief here: IPX1031 Disaster Relief Deadline Extensions information and IRS Disaster Relief Notices
image
IPX1031 Survey Reveals How Airbnb Hosts are Coping During Covid-19Coronavirus Tax Relief – IRSState Tax Filing Guidance for Coronavirus PandemicCDC’s Coronavirus

 
As the Coronavirus related issues continue to evolve, we remain committed to supporting you and keeping you informed. We are available and ready to listen to your unique needs and provide 1031 assistance on the phone and online.We will keep you informed as this situation continues to evolve. In the meantime, stay well and thank you for being an IPX1031 customer.
IPX1031 is the largest national qualified intermediary providing a full suite of services. As the nationwide leader in tax deferred exchanges, IPX1031 is here to offer you the best in service, experience and security. When you choose IPX1031 as your Qualified Intermediary, you can be confident that your exchange will be handled expertly and that your funds will be safe, secure, and available when needed. Contact IPX1031 to discuss your 1031 Exchange solution.IPX1031 Coronavirus Resource page
Covid-19 1031 FAQs
How Important is Your Qualified Intermediary?
Safety and Security for Investors
Disaster Relief Extensions
1031 Exchange and Defer? Or Sell and Pay Taxes?
Capital Gains Estimator
IPX1031 Knowledge Center
SIGN UP FOR COVID-19 UPDATES CLICK TO START AN EXCHANGE
Profile Image
Greg Burns
Senior Vice President
IPX1031
[email protected]
(626) 233-2773 – Mobile
www.ipx1031.com/burns
©2020 Investment Property Exchange Services, Inc. — a Fidelity National Financial CompanyUnsubscribeIPX1031 10 S LaSalle Street 31st Floor Chicago, Illinois 60603 United States (888) 771-1031

Leave a Comment