CHICAGO, July 24, 2024 /PRNewswire/ — Investment Property Exchange Services, Inc. (IPX1031), the leading national provider of 1031 Exchange services, has released their yearly Top Misconceptions about 1031 Exchanges.
The rules and regulations governing 1031 tax-deferred transactions sometimes give rise to myths and misunderstandings. By addressing these misconceptions, IPX1031 aims to educate both new and experienced investors about the nuances of using a 1031 Exchange effectively.
“We are excited to announce the Top Misconceptions for 2024,” said Scott Nathanson, Executive Vice President at IPX1031. “Our priority is to offer current insights into 1031 Exchanges so that investors and their advisors can make well-informed strategic choices all while adhering to IRC 1031 regulations. Our objective is for every exchanger to have the information needed to achieve complete tax deferral using a 1031 Exchange.”
The top 10 misconceptions for 2024 are:
Reinvesting Rules
Replacing Debt
Vacation Home Qualification
Partnerships
Related Parties
Exchange Funds
Tax Deferral
Holding Periods
ID Deadlines & Timing Rules
Reverse Exchanges
For a thorough examination of these common misunderstandings, read the full article at www.ipx1031.com/top-1031-misconceptions-2024/
To create its annual list, IPX1031 gathers information from surveys sent to CPAs, attorneys, and real estate brokers, in addition to inquiries received from investors throughout the year.
About IPX1031: Investment Property Exchange Services, Inc. (IPX1031) is the largest and one of the oldest Qualified Intermediaries in the United States. As a wholly owned subsidiary of Fidelity National Financial (NYSE: FNF), a Fortune 500 company, IPX1031 provides industry leading security for exchange funds as well as expertise and experience in facilitating all types of 1031 Exchanges. IPX1031’s nationwide staff, which includes industry experts, veteran attorneys and accountants, is available to provide answers and guidance to clients and their legal and tax advisors. For more information about IPX1031 visit www.ipx1031.com.
Contact:
Cindi Marinez, VP, Marketing
[email protected]
SOURCE IPX1031
