Ever Wondered If You're Meeting the Requirements For Your 1031 Exchange? Say Hi to the Napkin Test!

We are pleased to bring you another 1031 Exchange Fun Fact 💸 Ever wondered if you're meeting the requirements for your Exchange? Well, say hello to the Napkin Test!

This simple test was literally conceived on a napkin, at a seminar by California tax attorney Marvin Starr. It’s a basic exercise to determine the potential for exposing taxable assets or “boot” in an Exchange.

While it's not a replacement for a detailed Exchange consultation, the Napkin Test offers a quick and easy way to assess your Exchange and identify potential boot.

What do you want to see us cover next? Ask your questions below and stay tuned next week for another fun fact!

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Disclaimer: All my opinions are my own. These statements are not meant to be taken as investment advice.