What do 1031 exchange services do?

A number of different functions are provided for clients by 1031 exchange services. The primary service that most of them provide is acting as a qualified intermediary during the exchange. In order to make the exchange official according to the IRS, the money from the sale of the original property has to go into the possession of a qualified intermediary. Then the intermediary has to use the money to purchase the new property once it is located. The service can also report the entire transaction to the IRS for you, which can save you a lot of time and paperwork.

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