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1031 INFORMATION - EXCHANGE BASICS

 

A 1031 Exchange refers to property exchanges as allowed under section 1031 of the Internal Revenue Code. A real property owner can sell his property and then reinvest the proceeds in ownership of like-kind property and defer the capital gains taxes. These property exchanges must be done in accordance with the rules set forth in the tax code and in the treasury regulations. The 1031 exchange can offer significant tax advantages to real estate investors.

When you sell a property you would normally have to pay tax on the gain. Gain is caused by the property appreciating in value during its ownership or the owner taking depreciation deductions for tax purposes.

A 1031 Exchange allows an exception to the capital gains tax. When you replace your business or investment real estate with a different but like kind business or investment property and complete an exchange, you can defer payment of the capital gains tax normally required on these sales.

1031 INFORMATION


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