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TAX FREE STATES  

   TAX FREE STATES

There are seven tax free states. They are Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.

One of the many concerns investors have when they look into 1031 property exchanges is the issue of a geographic relocation of real estate. If you own a property in one state, and you're looking to invest in a property in another state, the transaction generally qualifies for a deferment of capital gains taxes. After all, one of the main reasons people reinvest in a replacement property is to protect their profits.

Some states have certain stipulations when it comes to 1031 exchanges. The best thing you can do if you have specific questions is speak with your tax accountant or legal counsel before investing in a replacement property. You can also find out specific information for a particular state by contacting the local tax board.

While some states impose a withholding requirement on the sale of real estate for non-residents, the withholding is often waived in the case of 1031 exchanges. In most cases, you simply need to fill out a 1031 exemption form, and file it with the state. Real estate purchased outside of the United States generally does not qualify for a tax exemption through a 1031 exchange.

At TM 1031 Exchange, we specialize in finding replacement properties. Investors often seek replacement properties in locations all around the United States. We help you find listings fast in order to comply with IRS 1031 timelines. Take a look at some of the listings online here.


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This site contains our latest survey of rated properties.Information obtained from sources deemed reliable but not guaranteed.
TM 1031 Exchange Inc. does not provide legal or tax advice. Investors should conduct their own independent investigations and rely only on those results.
Before making any investment decision consult with appropriate professionals.