PROPERTY SEARCH
ERIC DEGERBERG
FOR BUYERS
FOR SELLERS
- BETTER SELLING
RE/MAX
Properties of the Summit
Eric Degerberg, Broker
131 Blue River Parkway,
PO Box 2929
Silverthorne, CO 80435
800-289-2005
970-468-2000
RE/MAX is Summit County's most productive Real Estate company. And we're Summit County's most productive RE/MAX office.
For Sellers
1031 Exchanges:
How to Avoid Capital Gains Taxes on Commercial Property Sales
Selling commercial property? You may be able to avoid capital gains taxes IF all of the following are true…
- Both your old and new properties are investments or for business use.
- Within 45 days of closing you can list 3 properties you may want to buy.
- Within 180 days of closing you must close on one of the properties you listed.
- You purchase and take title to your new property exactly as you held title to your old property.
- The new property is equal or higher in value than the old. (Otherwise, some of the proceeds will be subject to capital gains tax.)
That's a simplified summary. If it seems to apply to you, please ask me for details, including referral to a trusted Qualified Intermediary.
You MUST use an IRS-approved Qualified Intermediary (QI) to prepare the necessary legal documents for the exchange.