AmTrust Exchange Partners

Complete tax deferral solutions & strategies for your real estate transactions.

Like Kind Exchange Basics

Like-kind exchanges -- when you exchange real property held as an investment solely for other investment property that is the same type or “like-kind” -- have long been permitted under the Internal Revenue Code. Generally, if you make a like-kind exchange, you are not required to recognize a gain or loss under Internal Revenue Code Section 1031.

AEP Expertise

Under the Tax Cuts and Jobs Act, Section 1031 now applies only to exchanges of real property and not to exchanges of personal or intangible property.

While there are three basic types of exchanges—simultaneous, reverse and deferred—95 percent are deferred. In a deferred exchange, when selling an investment property, the Internal Revenue Code allows a seller 45 days from the closing of the relinquished property to identify up to three replacement properties), and 180 days to close on the identified properties. The requirements of a 1031 exchange are strict. We take pride in our personal service and quick response. As Qualified Intermediary, we are prohibited from giving specific tax advice. However, we are happy to provide information about 1031 exchanges and to work with your tax advisor to structure your transaction as a 1031 exchange. Please call our office to set up an appointment if you are interested in additional information about our exchange services.

Real Estate Tax Tips

Tax Tips - Real Estate
This section contains information on topics such as tax credits, rental income and expenses and the sale of your residence.

Avoiding Problems - Real Estate
This section contains important information on recordkeeping and warns you of fraudulent real estate schemes.

Trends and Statistics - Real Estate
This site provides industry specific and general survey results that should be of interest to the small business owner.

Audit Technique Guides - Real Estate
The IRS Market Segment Specialization Program (MSSP) publishes various guides for use by IRS employees conducting audits and as information for taxpayers and practitioners.

Financial Resources - Real Estate
This section provides you with direct links to many commonly used financial resources for small businesses.

Tips on Rental Real Estate Income, Deductions and Recordkeeping
Questions and answers pertaining to rental real estate tax issues.

Reporting and Paying Tax on U.S. Real Property Interests
The disposition of a U.S. real property interest by a foreign person (transferor) is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States for the first time to tax foreign persons on disposition of U.S. Real Property Interests (USRPI).

Income Verification Express Service (IVES)
The Income Verification Express Service (IVES) provides two-business day processing and delivery of tax return transcripts. The new service replaces the existing process that required manual pick-up and delivery of transcripts from the IRS Return and Income Verification Services (RAIVS) units located across the country.

FS-2018-14, August 2018
Know the facts about renting out residential property.

Reach out to us at 212.499.0100 or contact our legal team of experts:

joseph forte
Joseph Philip Forte
General Counsel
P 646.386.2675