What is a 1031 Exchange?
A real property owner can sell his property and then re-invest the proceeds in ownership of like-kind property and defer the capital gains taxes. To qualify as a like-kind exchange, the property exchanges must be done in accordance with the rules set forth in the tax code and treasury regulations. The 1031 exchange can offer significant tax advantages to real estate buyers. Often overlooked, a 1031 exchange is considered one of the best kept secrets in the Internal Revenue Service code.
If you are a candidate, we suggest you consult your tax accountant and then give The Judy Niemeyer Team an opportunity to help you with your 1031 real estate exchange.
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