1031 TAX DEFERRED EXCHANGE
What is a 1031 Tax Deferred Exchange?
Whenever you sell a 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. There are numerous tax-deferral and tax-exclusion income tax strategies available. You should always consult with your legal, tax and financial advisors to determine which tax deferral or tax exclusion is the suitable for your specific circumstances.
Field Guide to 1031 Exchanges
The National Association of Realtors provides A field guide for 1031 exchanges. This field guide provides access to articles, manuals, forms, ideas, and other information to help you start building your 1031 niche.
Video on 1031 Tax Exchange
Here is a video on the basics for 1031 Tax Deferred Exchange
Karin Zeigler Real Estate Broker, RE/MAX Professionals
I am a Real Estate Professional and will work with a Qualified Intermediary and/or legal advisor to help you with your 1031 tax deferred exchange. Call me today. Karin Zeigler, Re/MAX Professionals at 360-870-6249.