1031.Exchange INTELLIGENCE NETWORK
License territory Acquire
PROFESSIONAL ROLES

CPA / tax advisor

Also called: CPA · tax accountant · tax preparer

⌕ Search dictionary
PLAIN-ENGLISH DEFINITION

The tax professional who helps model gain, basis, reporting and the interaction of the exchange with the taxpayer’s broader return.

What it means in practice.

A QI facilitates exchange mechanics but generally should not be treated as a substitute for transaction-specific tax advice.

Why it matters.

The tax advisor should be involved before closing when basis, entity, related-party or mixed-use issues exist.

Additional notes.

A QI facilitates exchange mechanics but generally should not be treated as a substitute for transaction-specific tax advice.

CONNECTED LANGUAGE

Related definitions.

Core 1031Qualified intermediaryA commonly used independent facilitator that enters into an exchange agreement and helps structure transfers so the taxpayer does not simply receive the exchange proceeds.ReportingForm 8824The federal form used to report like-kind exchanges and certain related information.Tax & BasisBasisA tax measure of investment in property used in calculating gain, loss, depreciation and other tax items.
KEEP LEARNING

Build the vocabulary before the transaction clock starts.

Explore the federal framework, exchange structures, replacement-property intelligence and professional roles connected to this term.

Open learning centerSearch another term