ISO: 1031 Exchange CPA (UT/NC)

[Reinan Lima]

Hi all, I’m looking for a CPA to help me with a 1031 exchange. I live in UT, my rental is in Gastonia, NC. Any recommendations?

[Eduardo Aguilar]

Hi Reinan- not sure if the process is different in NC, but in California, you typically need to be working with a 1031 Exchange Custodian to help facilitate the process. From what I know, a CPA is great in helping you navigate broader financial goals but 1031's are pretty straight forward. (1) Identify the properties or investments that you want to potentially invest the proceeeds into, (2) Sell your investment property, (3) have the 1031 Custodian hold the proceeds to transfer into new asset, (4) secure and fund the new asset.