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Must I report a 1031 exchange?

August 10, 2011


From:  William
Date:  14 Jun 2010
Subject:  Real Estate Tax Handbook

I am reading your book (Real Estate Tax Handbook – 2008 Edition). A sub-heading in the chapter on 1031 exchanges asks the question, “Is an election required?” Does this mean that if a taxpayer were to perform an exchange through an intermediary, he or she must report an exchange on his or her income tax return?

Answer

Date:  2 Jul 2010

Hello William,

Yes. Section 1031 is not an elective section. If you structure a transaction as a tax deferred exchange, it must be reported as one.

Good luck!
Mike Gray

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Must I report a 1031 exchange?

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