I have a client that was the daughter of a man that had apartment buildings, he died and the estate sold the property. She was listed as having to recieve a percentage of the monies. Can she use that in a 1031 program? The property was also in her name but the mother had the control. How can I help her on the taxes? 50% of it is going to capitol gains tax.
Thanks

If the sale transaction is already complete it is too late to use a 1031 exchange to defer taxes. If the sale is in contract only (and not closed) you may be able to work with it. I have a CEA (Certified Exchange Adviser) designation and would be willing to try to help you but there are a lot details that have to be done right. One of them is that the seller cannot receive the money; it must pass through what is called a Qualified Intermediary (no your attorney or accountant can't hold it in their trust account, that would be thrown out as having had "constructive receipt" even though you personally didn't have it; hence my question about if escrow had closed yet or not).

Feel free to PM me if you need additional details.