What is a 1031 Starker exchange?
Can you turn around and sell the property you are buying right away?
http://www.google.com/search?hl=en&q=1031+starker+exchange&btnG=Google+Search
No offense but I intentionally didn’t answer this yesterday when you asked, hoping you’d do some research…with the internet at your fingertips, research is sooooo easy! You should really do some of your own homework instead of relying on unknown/unseen folks on an internet chat forum…it will serve you better in the future…but, it’s your money at stake! Don’t take people’s word for stuff, go to the definitive sources. 1031s are involved and have lots of rules but they can let you defer you a “butt-ton” of capital gains expenses…
Perhaps one of the CPAs will offer an answer…I can but it is easy to mis-describe and then you’ll be angry…
:-X
Keith
In response to kdhastedt above post:
Unfortunately he has made a huge mistake with his uninformed assumption. He has assumed that people using this forum rely solely on what they read in this forum. He has no information as to what other sources we may use to confirm what we hear. He has also forgotten that he is on the internet and that this forum serves as partial internet research. (I am refering to his rediculous statement that I should do some research on the internet)
I’m sure that we all work with accountants and that our accountants will confirm or correct any information we hear on this forum.
Now I would like to know if anybody out there knows how a 1031 starker exchange works?
I know exactly how a 1031 Staker works and you know that it is called a “1031 Starker” because of this post:
I gave you a link already.
Here’s an IRS link:
http://www.irs.gov/businesses/small/industries/article/0,,id=98491,00.html
I read every post on these forums every day (including all of your 30-something posts)…trust me, I did not make any “uninformed assumption”…
Keith
It looks like the 1031 Starker Exchange is another name for the 1031 Exchange.
Is this true?
True…same/same
“Named after the well known Supreme Court case in which ruled in the taxpayer’s favor for a delayed exchange before the Internal Revenue Code provided for such exchanges.”
Keith
Mystery in my own mind solved.
What a releif ! :boink:
Yes, the Starker Exchange is the same as:
Delayed Exchange
1031 Exchange
Deferred Exchange
Etc.
One clarification. The Starker case was not a supreme court decision, it was a 9th Circuit decision.
Ok…whatever. Here’s the source document for the quote:
http://www.1031cpas.com/1031%20literature.htm
You can contact them for corrections…
Keith