What you need to know about 1031 Like-Kind Exchanges
1031 Like-Kind Exchanges can cause some confusion for many. A recent article in the Summer 2015 issue of the Commercial Connections publication titled, "5 Things to Know About 1031 Like-Kind Exchanges" by Eric Stackley, helps to shed some light on the topic of 1031 Exchanges.
Some of you might be surprised to know that this is not a "new" section of the tax code. In fact, Section 1031 tax deferred real estate, "has been in the tax code since 1924!"
Another important item to note is that 1031 like-kind tax exchanges are NOT a "loophole", "but rather a deferral - the owner [eventually] pays tax on the property..."
More information and details on this topic can be found in the full article on the REALTOR.org website.
You may also want to visit our website for additional tools:
- 1031 Tax Deferred Exchange
- This link also includes a helpful Capital Gains Worksheet, which you may also find helpful for 1031 real estate considerations.
- Basics of a 1031 Tax Exchange
Finally, if interested we have properties which may be ideal for purchase.
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