Description
We will discuss how investors in investment property real estate can look to transition out of active management, diversify their real estate exposure, and effectively manage their tax bill. 1031/721 programs can be a powerful way to transfer wealth from one generation to the next. As they both enable investors to defer capital gains taxes when selling investment properties, but they differ in the types of properties involved, timelines and goals. This session will cover what you should be looking for when speaking to clients, best practices and how others are using the solution to grow their practices and assist their clients.
Learning Objectives
1. What is the difference between a 1031 exchange and a 721 exchange? And how to use them effectively.
2. Not all properties are candidates for 1031 and 721 exchanges – we will discuss which ones are and why others are not
3. Both 1031 and 721 exchanges are subject to specific IRS rules and regulations, including deadlines and requirements for the replacement property or REIT – we will discuss these in depth