If you have investment property or are interested in investment property, a 1031 exchange is something you should be aware of as it may guide part of your strategy. I’ve compiled the following information to help educate you on 1031 exchanges. To take it a step further, or discuss your specific situation, please contact me for a free consultation. I am an investor-friendly real estate broker and am an investor myself.
What is a 1031 Exchange?
Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free. Read More on the IRS website»
Learn more about 1031 Exchanges
