1031 TAX-DEFERRED EXCHANGES
When you sell an investment property you may face the prospect of paying significant capital gains tax. The 1031 tax-deferred exchange is widely known and utilized by investors to defer capital gains tax when selling and buying investment properties. A 1031 exchange allows you to sell an investment property and acquire a new property while deferring the capital gains tax. Understanding the tax savings strategies available through a 1031 exchange, along with proper planning and tax advice, can help you save significant tax dollars.
One of the basic requirements to qualify for maximum tax deferral under I.R.C. Section 1031 is to use a Qualified Intermediary to satisfy the statutory safe harbor. GT EXCHANGE SERVICES, LLC (“GTX”) serves as a Qualified Intermediary.
WHY CHOOSE GTX AS YOUR QUALIFIED INTERMEDIARY?
Since 2002, GTX has been providing Qualified Intermediary services for its clients for various types of business and real estate transactions. GTX is an affiliate of GT Title Services, a leading provider of title insurance and real estate closings services to the real estate and mortgage industries in Utah.
We believe a Qualified Intermediary should handle exchange funds with a sense of care and trust, offering experience and professional qualify services, along with solid credentials in facilitating tax-deferred exchanges. At GTX, all exchange funds are strictly deposited into our client trust account with Zions First National Bank, N.A. We do not invest any client exchange funds. Exchange funds are segregated file by file in our records and held in trust and accounted for using industry standard escrow accounting procedures. We have experienced and knowledgeable transaction and real estate attorneys on staff.
Contact us for more information about GTX and 1031 tax-deferred exchanges.