Can Form 8854 Defer 2023-2024

The six rules for using a 1031 exchange for real estate investing - that's today's show. Let's dive in. Hey everyone, I'm Clayton Morris. I'm Natali Morris, and together we form Morris Invest. We've been flipping houses for a number of years now. We buy and hold real estate for the purposes of creating passive income and legacy wealth for you and your family. So, if you're new to the show, go back into the archives. We have tons of great episodes where we talk about everything from tax benefits to setting up your profit first system for your different bank accounts for real estate investing, liability protection, all of those things. But on today's episode, we're gonna dive deep into the most powerful tool in the real estate arsenal - the 1031 exchange. You know, we've had Tom Wheelwright on the show before, a number of times. Our tax accountant at provision, and he said this is one of the most powerful tools that any real estate investor - it's probably in the tax code - would you say, maybe like the most powerful tool for continuing to build wealth throughout your life? Oh, definitely. The 1031 exchange is like Keith, I think he calls it, like some kind of little magical wealth building tool. It's like a magic wand, right? Exactly. So, we've been deep-diving some of this, you know, in the office at Morris Invest. We get a lot of investors who will call us up and say, "Hey, maybe they already own, like, two properties with us, etc but they'll say, 'Hey, you know, we're about to sell this house in Phoenix, and we wanted to use that money in order to buy five, six, seven, ten rental properties, and can you help us do that?'" So, there are...