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Get 1031 Exchange Order Form - 1031 Corp.
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How to use or fill out the 1031 EXCHANGE ORDER FORM - 1031 CORP. online
Completing the 1031 Exchange Order Form online can simplify the process of initiating your real estate exchange. This guide provides a detailed walkthrough to ensure each section of the form is filled out accurately.
Follow the steps to successfully fill out the 1031 Exchange Order Form online.
- Click ‘Get Form’ button to access the 1031 Exchange Order Form and open it in your preferred editor.
- Fill in your contact information thoroughly, including your taxpayer name, mailing address, and phone numbers. Be sure to include your email address, as this will be used for all communication during the exchange process.
- Indicate if you are a foreign person or a resident alien by selecting 'Yes' or 'No' for the respective questions.
- If you have been referred to 1031 Corp by someone, provide the details of the referral source including name, company, and contact number.
- Respond to questions regarding consultations with your tax and legal advisors about the 1031 exchange, making sure to indicate 'Yes' or 'No'.
- In the notice of closing section, provide information about the relinquished property including its address and any personal use details if applicable.
- Fill in details about the closing information, including the closing agent's name and contact information.
- Repeat the process for the replacement property, specifying its address, title co-ownership details, and any personal usage plans.
- Complete the closing information for the replacement property with the necessary dates, times, and contact details.
- Review all entered information for accuracy before submitting the form. Make sure to save any changes, and you can opt to download, print, or share the form once completed.
Start completing your 1031 Exchange Order Form online today for a hassle-free exchange process.
Per the IRS, "Gain deferred in a like–kind exchange under IRC Section 1031 is tax–deferred, but it is not tax–free." More importantly for a settlement agent, an exchange transaction is not exempt from IRS reporting. A 1099–S must still be filed, reporting the transfer to the IRS.