1031 Parking Exchange

Cincinnati, Ohio, Tax Lawyers: 1031 Parking Exchange

A parking exchange is a type of 1031 like-kind exchange that allows you to do transactions that take longer than 180 days. This type of exchange is typically used for major construction projects, improvement exchanges and other unique transactions.

At Strategic Property Exchanges, LLC, in Cincinnati, our attorneys understand the complex rules that apply to 1031 parking exchanges. We provide the a high level of individualized and personalized service, backed by our federal tax opinion that guarantees your 1031 parking exchange is in full compliance with applicable federal tax laws.

The parking exchange is the only type of 1031 deferred-tax exchange that allows you to complete transactions that take longer than 180 days. Due to the cost and complexity of parking exchanges, this is typically used only in major transactions that involve a large amount of money. Examples would be acquiring land and building a nursing home, apartment building or strip mall.

Strategic Property Exchanges has structured many exchanges outside the safe harbor 180-day period. Our careful planning provides opportunities for taxpayers to have essentially unlimited time to complete improvements before actually initiating the exchange.

Improvement exchanges

An improvement exchange is a transaction where the property owner uses exchange proceeds to improve the replacement property. The improvement exchange can either be accomplished in a parking or reverse exchange.

For more information

To schedule a consultation about a 1031 parking exchange, please call 513-412-3483 or fill out the contact form on this Web site. From our offices in Cincinnati, Ohio, our lawyers represent property owners throughout Ohio.