We get a lot of questions about 1031 Exchange. It’s the IRS tax law that lets you buy & sell real estate without having to pay capital gains taxes. Alpine Lakes Real Estate has completed this type of transaction many times, therefore we’re very familiar with the requirements.

Generally, if you sell your income property or land held for investment in NH, and you have cash left over from the sale after you buy your new property, the leftover amount will be taxed as income. That doesn’t apply to everyone though, so talk to your tax advisor about your own financial situation.

You will want to get a “qualified intermediary” such as Edmund & Wheeler, Inc. (think of it like an escrow company) to do the 1031 exchange.