1031 Exchange
1031 Exchange – The intelligent way for real estate buyers
Section 1031 of the Internal Revenue Code (IRC) offers real estate buyers a golden opportunity by means of significant tax advantage. Section 1031 of the IRC gives a chance to real estate buyers to defer the capital gain taxes that they incur by selling a property. It states, a real property owner can sell his property and then reinvest the proceeds to purchase of like-kind property and defer the capital gain taxes. However, to qualify for 1031 like kind property exchange aka, 1031 tax deferred exchange and gain tax … Continue Reading