Connecticut Tax Free Exchange Package

Connecticut Tax Free Exchange Package
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State:
Connecticut
Control #:
CT-P064-PKG
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Description

The Tax-Free Exchange Package contains essential forms to successfully complete a tax-free exchange of like-kind property.

This package contains the following forms:

(1) Exchange Agreement
(2) Exchange Addendum
(3) Certification Of No Info Reporting On Sale Of Exchange
(4) Like-Kind Exchanges
(5) Sale of Business Property
(6) Personal Planning Information and Document Inventory Worksheets

Detailed Information on each form:

1. Exchange Agreement - This form is used to establish the intent to enter into an exchange agreement and to otherwise qualify the contemplated transactions under the qualified intermediary safe harbor.

2. Exchange Addendum - In this form, the parties amend an existing contract to buy and sell real estate and agree that the Exchanging Party's rights under the contract are assignable prior to closing to structure an exchange of the property under Section 1031. The Cooperating Party agrees to reasonably cooperate in such exchange with the Exchanging Party.

3. Certification Of No Info Reporting On Sale Of Exchange - Complete this form to determine whether the sale or exchange should be reported to the seller, and to the Internal Revenue Service on Form 1099-S, Proceeds From Real Estate Transactions.

4. Like-Kind Exchanges - This form is used to report each exchange of business or investment property for property of a like kind to the Internal Revenue Service.

5. Sale of Business Property - This form is used to report gains, losses and recapture amounts from the sale of business property and involuntary conversions.

How To Fill Out Connecticut Tax Free Exchange Package?

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If you have a US Legal Forms subscribing, log in to your profile, and you'll find the Download key on the Connecticut Tax Free Exchange Package’s page.

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  1. Check if the Connecticut Tax Free Exchange Package applies in the state you live.
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Find each template you download in the My Forms menu. Simply go there to prepare fresh version of your Connecticut Tax Free Exchange Package. Even when preparing expertly drafted forms, it’s still vital that you consider requesting the local legal professional to twice-check filled out sample to make sure that your record is accurately filled in. Do more for less with US Legal Forms!

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