We do not give tax advice, and any exchanger who treats exchange coordination as a substitute for their CPA's guidance is taking on risk they do not need to take. What we do is keep the exchanger's tax advisor informed at each step of the transaction, so the advice that advisor gives is based on current, accurate information rather than a summary reconstructed after the fact.
Why the Advisor Needs to Be Looped In Before Identification, Not After
A CPA who first learns about a client's exchange after the identification letter has already been submitted is working from a position where several important decisions have already been locked in. Bringing the advisor into the conversation before the relinquished sale closes gives them a chance to flag basis, depreciation recapture, or state tax issues that might affect how the exchange should be structured.
We treat the advisor's early involvement as a scheduling priority, not an afterthought, and build our own timeline around making sure their input arrives while decisions are still open rather than after they are final.
What Information the Advisor Actually Needs and When
A CPA advising on a 1031 exchange needs the relinquished property's basis and depreciation history early, the identification letter and closing documents as they are finalized, and the full replacement property closing statement once the exchange completes, since all of that feeds directly into Form 8824 preparation. Waiting until tax season to assemble this file creates unnecessary pressure on a document trail that should have been built in real time.
We maintain a running file throughout the exchange specifically so the advisor's Form 8824 work starts from a complete record rather than a reconstruction project months after closing.
What Coordination With the Advisor Includes
The coordination work with an exchanger's CPA or tax advisor follows the same structure on every file.
- sharing relinquished property basis and depreciation schedules before the identification window opens
- providing the advisor a copy of the identification letter once it is delivered to the QI
- flagging any partial exchange or boot exposure as soon as it becomes apparent in deal structure
- delivering the full closing document set for Form 8824 preparation once the exchange completes
- confirming Georgia-specific reporting considerations with the advisor for the investor's return
Boot and Constructive Receipt Are Advisor Conversations, Not Ours
When a deal structure creates potential boot, whether from unequal debt replacement or leftover cash at closing, we flag it as soon as it appears so the exchanger's advisor can evaluate the tax consequence and confirm the calculation. We are not positioned to tell an investor how that boot exposure affects their personal tax situation, and we do not attempt to.
The same goes for any question that touches constructive receipt or the exchanger's individual filing position. Those are the advisor's call, informed by facts we make sure they have in front of them.
What a Disconnected Advisor Relationship Costs at Tax Time
The exchanges that create the most stress in April are the ones where the CPA is assembling the exchange story from memory and scattered emails months after closing, sometimes discovering a boot issue or a documentation gap only when the return is already due. Coordinating in real time is what prevents that scramble.
Coordinating Across Multiple Advisors When They Exist
Some Atlanta exchangers work with a CPA for annual filing and a separate estate or wealth advisor who has a stake in how the replacement property is titled or held. When both exist, we confirm which advisor owns which decision early, since conflicting guidance discovered mid-transaction, for example on how title should be held for the exchanger's broader estate plan, can force a late change that a closing timeline has no room to absorb.
Getting every advisor the same set of facts at the same time, rather than relaying information through the exchanger from one advisor to another, has consistently proven to be the more reliable way to avoid that kind of late conflict, and it keeps the exchanger from being put in the position of mediating between two professionals who have never actually spoken to each other.
Common 1031 Exchange Questions
Do you provide tax advice as part of this coordination work?
No, we coordinate timing and documentation with the exchanger's tax advisor, but any advice about tax consequences, basis calculation, or filing position comes from the CPA directly, never from us.
When should my CPA first hear about my exchange plans?
Ideally well before the relinquished property closes, so basis and depreciation questions can be reviewed while there is still time to adjust the exchange structure if needed.
What is boot and who determines how much I might owe on it?
Boot is any non-like-kind value received in the exchange, such as cash or unreplaced debt, and while we flag when it appears likely, the exact calculation and tax consequence is confirmed by the exchanger's CPA.
Will you send my Form 8824 documentation directly to my accountant?
Yes, we compile the identification letters, closing statements, and QI documentation into a complete, organized file for direct delivery to the exchanger's tax advisor once the exchange is fully complete.
What happens if my CPA identifies a problem with the exchange structure late in the process?
We work to give the advisor visibility early enough that this should not happen, but if it does, we prioritize getting the advisor whatever additional documentation they need to resolve the question quickly and completely.
