Save on taxes and grow your real estate portfolio with a Fairfax Virginia 1031 exchange. Learn how this powerful tool can benefit you.To complete a 1031 exchange in Fairfax, VA, you must work with a qualified intermediary to hold your funds and sign an agreement. Form 8824 is used to report the exchange and is included in the publication. 1031 Exchanges are useful for deferring capital gains on an investment property. You will have 45 days to designate a new property, and 180 days to close on it. 1031 may apply only to the exchange of the land for other land. This 1.5 hour 1031 Exchange of Real Estate a quick paced class covering the critical components and latest information about 1031 exchanges. By completing a proper 1031 exchange, you can essentially change the form of your investment without cashing out or recognizing any capital gains. A Qualified 1031 Exchange Intermediary prepares necessary documents including the Exchange Agreement, and enters into the Exchange Agreement with the exchanger.