Wacky ideas to make a buck 1099 exchange.

[Lakewood90712]

I'm putting this thread here in other topics, not sure it it is " Ready for Primtime " in Fire and Money. Moderators , please move it if it is.

Ques for the resident tax experts.

Is the 1099 exchange still in the tax code ? and can a person make money being the "Accomodator"

 

[Martha]

I assume you mean a 1031 exchange. The middle man is usually known as the intermediary. They still exist and in recent years have expanded to include what are known as reverse exchanges (buying something before you sell the property you want to exchange). I know some people in the commercial real estate management business that also serve as intermediaries. I don't think there is much money in it, but I could be wrong.

 

[tryan]

I paid $600 to my intermediary ... it'll take lots of those to make a living.

 

[Scrapr]

The intermediaries also hold the funds while the deal is in process. I think this is where the majority of the $$ are. Interest on a couple hundred thousand for 2 months? Times 40 or 50 deals?

I would think an individual as an intermediary would be a tough sell. Trust factor is big with me

 

[Martha]

Better be bonded.