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Debt Relief In a 1031 Exchange – All Things 1031

The IRS considers the debt on a property to be its sales price when the debt exceeds the sales price. Therefore, if the debt exceeds the basis there will be gain upon a transfer! There is relief from Phantom Gain on a primary residence under certain conditions, so make sure you understand the guidelines for qualification! Investment property does not have any exclusions. Sit down with David Moore as we cover DEBT RELIEF in a 1031 exchange.

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The Guys With All The Answers…

David and Thomas Moore, the co-founders of Equity Advantage & IRA Advantage
Whether working through a 1031 Exchange with Equity Advantage, acquiring real estate with an IRA through IRA Advantage or listing investment property through our Post 1031 property listing site, we are here to help Investors get where they want to be. Call them today! 503-635-1031.

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"WASHINGTON STATE LAW, RCW 19.310.040, REQUIRES AN EXCHANGE FACILITATOR TO EITHER MAINTAIN A FIDELITY BOND IN AN AMOUNT OF NOT LESS THAN ONE MILLION DOLLARS THAT PROTECTS CLIENTS AGAINST LOSSES CAUSED BY CRIMINAL ACTS OF THE EXCHANGE FACILITATOR, OR HOLD ALL CLIENT FUNDS IN A QUALIFIED ESCROW ACCOUNT OR QUALIFIED TRUST." RCW 19.310.040(1)(b) (as amended)

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