Deutsche Bank has been appointed as Qualified Intermediary (QI) on Alamo Financing LP like-kind exchange program.
A like-kind exchange is known as a 1031 exchange, referring to section 1031 in the Internal Revenue Code. A like-kind exchange is a way of deferring capital gains taxes by reinvesting proceeds from a sale into a like-kind asset. This structure is frequently used in the automotive, aircraft, equipment and real estate industries. In accordance with section 1031 a taxpayer must appoint a Qualified Intermediary on such transactions in order to appropriately comply with the tax code.
“We are pleased to have been selected by Alamo for our high quality Qualified Intermediary solution and welcome Alamo as a like-kind exchange client,” says Kevin Plein, managing director within Global Transaction Banking (GTB), Deutsche Bank.
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