Owners of investment real estate recognize the 1031 Exchange
as an invaluable tool for deferring capital gains tax when selling one investment property and purchasing another. To take advantage of a 1031 Exchange, you must use a Qualified Intermediary (QI) to prepare all legal documentation and to hold
the proceeds from the first sale until the new purchase is completed.
The right QI can make a significant difference in the execution and safety of your 1031 Exchange. Citywide Exchange is here to assist you through each step of your exchange. First, we will consult with you on how best to structure your exchange – always considering your unique situation. Your exchange team will then coordinate all aspects of your exchange with your closing agent, as well as your attorney and CPA if appropriate. We will prepare all documents and manage the retention and disbursement of funds. We will document details of your exchange to meet all IRS requirements and we keep you informed of all deadlines and critical points throughout the process.
Your exchange funds will be kept in a separate FDIC-insured* account at Citywide Banks.
We do not commingle your exchange funds. We set up a separate account for each client.
Online Account Access 24-7
Best of all, you’ll be able to view your account, online, 24-7,
via our exclusive 1031Access™ program.
Year-End Reporting
You will automatically receive the year-end documentation needed to report your exchange to the IRS. It will include copies of your documents, a tax worksheet and an instruction book that will walk you through the tax filing process. The regulations, court cases, and IRS rulings that apply to your exchange are ever-changing. Citywide Exchange stays up to the minute on new tax laws and directives. See how easy an exchange can be
with people who care about service.
Call 303-531-5769 to speak to a Citywide Exchange representative.
*subject to maximum allowable limits
