Own Real Estate? Planning to sell? Are you familiar with how you can defer capital gain taxes from a 1031 Exchange? Interestingly enough Lots or Land may qualify! We have a Qualified Intermediary as our guest, ready to guide us through the process, provide answers to questions and present many variables that are mysterious and unknown. You’ll be surprised on how you just might qualify for a tax deferral ~
Guest: Milissa Ormiston-Hall, A Qualified IPES Intermediary [QI], Investment Property Exchange Services, INC, 503-367-6701 [email protected] http://www.ipx1031.com/ormiston
Milissa Ormiston-Hall, a seasoned professional with over 26 years of sales experience, serves as a 1031 Exchange Qualified Intermediary. Her diverse background includes 12 years in corporate business-to-business sales, where she excelled as a regional sales manager for Fortune 500 companies. Additionally, she spent 14 years as a realtor in both Oregon and Washington. In her role as a third-party Qualified Intermediary (QI), Milissa educates and facilitates exchanges to ensure compliance with IRS regulations.
Mastering 1031 Exchange episodes with Milissa for a tax deferral opportunity
Ep 87 - Mastering 1031 Exchange For Real Estate Investors
Ep 90 - Mastering 1031 Exchange • Exit Strategies
Ep 91 - Mastering 1031 Exchange • Short-Term Rental • Duplex Strategies
Ep 93 - Mastering 1031 Exchange • The Reverse Exchange
Ep 95 - Mastering 1031 Exchange • Vacant Land • Farm Strategies
Skip to what you need to know:
Episode Summary
1:34 – Required Qualified Intermediary (QI)
2:27 – Definition Of A 1031 Exchange. Relinquished To Replacement Property
3:28 – Capital Gain Explained
12:13 – “Like-Kind” Explained
13:15 – Land Exchange
14:18 – Real Estate That Qualifies
15:39 – What Doesn’t Qualify
16:25 – Mixed-Use
16:50 – Duplex
17:06 – Primary Residence
19:00, 47:51 – Depreciation Deferral
20:56 – How Many Fail?
21:14, 23:17 – Timeline
22:34 – Prepare Poa And Trusts
24:00 – When It’s Too Late To Apply
25:22 – 45 Day, 180 Day Explained
25:46 – How To Identify Replacement Property
28:48 – 200% Rule - Multiple
31:32 – Cost For QI
34:30 – NIIT, Net Investment Income Tax
36:01 – Process Of Relinquished To Replacement
39:09 – Access To Funds From Sale
41:19 – What Happens To Your Money If You Can't Find A Replacement Property
43:45 – Can I Sell Multiple, And Replace With One? Helpful Tips To Know
49:08 – Portion Of Depreciation Taxed Explained
51:19 – Exit Strategy
52:50 – Estate Planning
53:29 – Estate Taxes
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