1031 like-kind exchange A nonresident who completes the GIT/REP-3 and claims exemption for a 1031 transaction box 7 must show the value of the like-kind property received. If the transaction includes non-like kind property i.e. money stocks etc the seller must also compete the GIT/REP-1 Nonresident Seller s Tax Declaration show the greater of the that amount. GIT/REP-3 9-2015 State of New Jersey SELLER S RESIDENCY CERTIFICATION/EXEMPTION Please Print or Type SELLER S INFORMATION Name s Current Street Address City Town Post Office Box Zip Code State PROPERTY INFORMATION Block s Lot s Qualifier Street Address Seller s Percentage of Ownership Total Consideration Owner s Share of Consideration Closing Date SELLER S ASSURANCES Check the Appropriate Box Boxes 2 through 14 apply to Residents and Nonresidents 1. An estimated tax payment is required on the 200 000 non-like kind property for nonresidents. PROPERTY A CASH 1 200 000 Signature The seller must sign and date the Seller s Declaration.....
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How to fill out the NJ DoT GIT/REP-3 online
Completing the NJ DoT GIT/REP-3 form online is essential for individuals, estates, or trusts selling or transferring property in New Jersey. This guide provides a comprehensive, step-by-step approach to help you navigate the form confidently and correctly.
Follow the steps to fill out the NJ DoT GIT/REP-3 online effectively.
- Press the ‘Get Form’ button to access the NJ DoT GIT/REP-3 form and open it in your preferred online editor.
- Begin filling out the 'Seller’s Information' section. Provide the seller's name(s) along with their current street address, city, state, and ZIP code.
- Complete the 'Property Information' section by entering the block(s), lot(s), and street address of the property being sold, along with the closing date and any relevant ZIP codes.
- Indicate the seller’s percentage of ownership and provide the total consideration for the property being sold, as well as the owner’s share of that consideration.
- In the 'Seller’s Assurances' section, check the appropriate box or boxes that apply, ensuring to indicate if one or more of these assurances exempt the seller from making an estimated Income Tax payment.
- Review the 'Seller’s Declaration' carefully. The seller must sign the form, indicate if they are using a Power of Attorney, and date the declaration.
- Once all sections are completed, you can save your changes. Then download, print, or share the filled-out form as needed.
Complete the NJ DoT GIT/REP-3 online today to ensure a smooth property transaction.
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