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A 1031 exchange is a real estate transaction where you trade a business-use property or one held as an investment property for a "like kind" property. ... capital gain tax on the profit from the ...
A 1031 exchange allows certain real estate investors to defer capital gains taxes when selling one investment property and reinvesting proceeds from the sale into another similar property. Taxes ...
Frequently, the most difficult component of a 1031 exchange is identifying a replacement property within the first 45 days following the sale of the relinquished property. The IRS is strict in not allowing extensions. A 1031 exchange is similar to a traditional IRA or 401(k) retirement plan.
A like-kind exchange under United States tax law, also known as a 1031 exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset. A like-kind exchange can involve the exchange of one ...
Knowing the 1031 exchange rules helps you save on taxes. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 ... Home & Garden ...
Section 1031 exchange—If a business sells property but uses the proceeds to buy similar property, it may be treated as a "like kind" exchange. Tax is not due based on the sale; instead, the cost basis of the original property is applied to the new property. [59] [60]
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