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1033 and 1034  Form

1033 and 1034 Form

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Instructions and help about 1033 And 1034

Welcome to CRE Fast Five and today’s discussion  on 1033 exchanges. I’m Karly Iacono. Now do   not confuse 1033 exchanges with the beloved 1031  exchange. Both have different applications and   rules which I will clarify today. Before I go  through the mechanics, let me tell you why 1033   exchanges may be more relevant to you than you  may realize. With the passing of the roughly $1.7   trillion dollar Infrastructure and Jobs Act, we  could see an uptick in 1033 exchanges in the near   future. Here is the connection, infrastructure  projects often have an eminent domain element.   Typically, the real estate closest to roads,  bridges etc is retail real estate so this could   affect retail landlords and investors. When a  property is taken by eminent domain or subject   to condemnation or natural disaster, section  1033 of the Internal Revenue Code applies, which   allows for exchange of like kind property and the  deferral of capital gains tax. Eminent

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