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If you follow the rules governing 1031 exchanges, you can defer paying capital gains tax on the one-bedroom unit. And you can do it whether you own the property as an individual or business entity ...
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.
Learning what a 1031 exchange is can allow you to defer taxes on the gains each time you trade investment properties, which allows you to reinvest more of the proceeds each time you trade. But, if ...
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 ...
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 ...
Part I: Source Rules and Other General Rules Relating To Foreign Income (§ 861–§ 865) Section 861: Income from sources within the United States ... Subchapter O: Gain or Loss on Disposition of Property (§ 1000–§ 1111) ... Part III: Common Nontaxable Exchanges (§ 1031–§ 1045)
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