Section 1031 Tax-Deferred Exchanges
Chances are good that, if it hasn't happened yet, you will one day work on a transaction involves a property that’s part of a tax-deferred exchange. When this happens, will you be ready to guide your client through the process and ensure they meet the critical deadlines?
With an appropriately formed exchange, an investor can defer paying taxes on the profit from one investment and instead use all of the profits to fund another investment.
This course helps licensees become more comfortable with guiding clients through a 1031 tax-deferred exchange transaction and ensuring critical deadlines are understood and met.
Course highlights include:
- Section 1031 tax-deferred exchange definitions
- Starker’s Exchange background and application
- U.S. Internal Revenue Code requirements
- IRS Safe Harbor Guidelines
- Investor taxes advantages
- Setting up an exchange
- Selecting a Qualified Intermediary
- Licensee role in a Section 1031 tax-deferred exchange
- The non-exchanger's role in a Section 1031 transaction
- Reverse exchanges
- Rare exemptions to exchange deadlines
State Requirements For Washington
Washington State Requirement Details for Real Estate Continuing Education
Renewal Date: Every two years
Hours Required: 30 hours
Renewal for Brokers:
First Renewal:
- 30-hour Advanced Practices Course
- 30-hour Real Estate Law Course
- 3-hour Current Issues in Washington Residential Real Estate Course
- 6-hour Wasington Real Estate Fair Housing Course
- 21 hours of other approved continuing education
You must start these hours after the date you're first licensed. If you haven't taken the initial 6-hour Washington Real Estate Fair Housing course, you must take it first.
- Once you've taken the initial 6-hour course, you must take the 3-hour Washington Real Estate Fair Housing course each time you renew.
- At least 30 hours, including:
- 3-hour Current Issues in Washington Residential Real Estate Course
- 3-hour Washington Real Estate Fair Housing Course
- At least 27 hours other approved continuing education
- At least 15 hours must be completed within 24 months of your renewal date.
- You may also use up to 15 hours of unused continuing education completed within 48 months of your renewal date.
Inactive renewals
- No Continuing Education required to renew an inactive license.
- If you want to activate your license, you may need to meet the education requirements for an active license.
Renewal for Managing Brokers:
- At least 30 hours, including:
- 3–hour Core Course
- 3-hour Fair Housing Course
- At least 24 hours other approved continuing education
- At least 15 hours must be completed within 24 months of your renewal date.
- You may also use up to 15 hours of unused continuing education completed within 48 months of your renewal date.
- The hours must be started after the date of first licensure as a managing broker.
Washington State Department of Licensing
Street Address: 2000 Fourth Avenue West, Olympia, WA 98502
Mailing Address (Forms with no payments): P.O. Box 9021, Olympia, WA 98507-9021
Mailing Address (Forms with payments): P.O. Box 3917, Seattle, WA 98124-3917
Telephone: 360.664.6488
Fax: 360.586.0998