If I sell a house and buy another one with cash, can I do the 1031 tax exchange paperwork and the income tax paperwork myself legally, or am I forced by law to use an intermediary?
Chosen Answer:
you are forced by law to use an intermediary? The Qualified Intermediary (aka QI or Accommodator) is essential to completing a successful and valid 1031 exchange. It is the independent party that holds the funds between the sale and future purchase. A Qualified Intermediary should be bonded and insured against errors and omissions and employee
No comments:
Post a Comment