Does the taxpayer need a legal or tax advisor if they select a Qualified Intermediary?

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Does the taxpayer need a legal or tax advisor if they select a Qualified Intermediary?

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A. It is always a good idea for the taxpayer to consult with their attorney and tax advisors prior to entering a 1031 exchange. The QI is hired to facilitate and carry out the tax-deferred exchange as well as prepare the necessary documentation for the exchange. Our company is precluded from counseling the taxpayer on the legality or tax implications of an exchange.