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Section 1031(a) of the Internal Revenue Code (26 U.S.C. § 1031) states the recognition rules for realized gains (or losses) that arise as a result of an exchange of like-kind property held for productive use in trade or business or for investment. It states that none of the realized gain or loss will be recognized at the time of the exchange.
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 ...
A 1031 exchange, also called a like-kind exchange, is a real estate transaction where you trade a passive-income-generating property — a business-use property or one held as an investment ...
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 ...
Continue reading → The post Real Estate: 1031 Exchange Examples appeared first on SmartAsset Blog. But if you’re interested in real property, you need to know the ins and outs of purchasing ...
An investor decides to sell investment property and do a 1031 exchange. He contacts a qualified intermediary (QI) and they enter into an agreement. The investment property is placed on the market. An offer to purchase the investment property is accepted and signed by the QI. Escrow for the sale is opened, and a preliminary title report is produced.
Use 1031 exchanges for real estate investing to lower taxes. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
The role of a QI is defined in Treas. Reg. §1.1031(k)-1(g)(4). Under IRC Section 1031 an owner of business or investment property may exchange that property for other like-kind property within a statutorily mandated period of time, and defer current recognition of gain on the sale of the old property.
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