Ads
related to: 1031 exchange residential real estate attorney near me pro bono
Search results
Results from the WOW.Com Content Network
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 ...
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 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.
For real property exchanges under Section 1031, any property that is considered "real property" under the law of the state where the property is located will be considered "like-kind" so long as both the old and the new property are held by the owner for investment, or for active use in a trade or business, or for the production of income.
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.
For premium support please call: 800-290-4726 more ways to reach us
Ads
related to: 1031 exchange residential real estate attorney near me pro bono