1031 Qualified Intermediary Exchanges

Section 1031 of the Internal Revenue Code allows real estate owners to defer the capital gains tax liability associated with the sale of an investment or business property. However, the entire transaction has to be done in accordance with detailed IRS regulations, and the proceeds of the sale must transfer through a qualified intermediary.

Understanding Like-Kind Exchanges

Do you understand the Section 1031 code? We do, and we can guide you through the process. Citizens National Bank's Wealth Management Division can serve as the qualified intermediary necessary to meet the requirements of 1031 exchanges, also known as like-kind exchanges. Our method is proven and straightforward, and we understand the requirements for a tax-deferred transaction. As your qualified intermediary, we can manage tax-deferred exchanges, assist with appropriate documents and communicate with all parties involved: real estate agents, banks or mortgage companies, title companies, legal counsel and accountants.

Our goal is to provide you with professional expertise that enables you to meet the requirements of Section 1031 so you can complete your property exchange easily and successfully.

 


Securities are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Citizens National Bank is not a tax expert or CPA. Consult a tax expert or CPA.