Trade 5m worth of land for 5m Home - Posted by Jason

import · September 22, 2005, 10:55am

Posted by James Harris on September 22, 2005 at 11:02:27:

1031 exchange

import · September 22, 2005, 10:55am

Posted by Jason on September 22, 2005 at 10:55:38:

Im own a piece of land worth 5 million that I would like to trade on a house thats worth 5 million. My question is what is the best way to set this deal up? Should I sell him my land for $1 and he do the same or should be both trade them at market value? Any one with any other ideas please let me know.

Thanks,

Jason

import · September 22, 2005, 1:36pm

Re: Trade 5m worth of land for 5m Home - Posted by bryan

Posted by bryan on September 22, 2005 at 13:36:19:

If both of you perform a 1031 exchange and the sale prices are identical, the only fees you will incure are the fees that the exchanger charges to set up the deal and you will pay no taxes on this transaction.