What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified
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ยง 1031. Exchange of property held for productive use or investment...Read more law >
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Land Exchange
Tax Redemption
Real Property
Doing a Partial Exchange
Tax Deferred Exchanges
If you plan on utilizing Section 1031, you may do so with more than one property.
You can do so with up to three properties at once.
1031 Related News
Deferred Exchanges Of Like Kind Property
Like-kind property can be a variety of business property, not just real estate; it can be any property held for productive use in a trade or business or for investment.
IRS Tax Deferred Exchange
Acquisition of property by an exchange facilitator in connection with a section 1031 tax deferred exchange is subject to the real estate excise tax
Definition:
A written document conveying title to property repossessed by the government due to default on tax payments.
Non-Conforming Loan
Definition:
A loan that does not conform to Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines. Jumbo loans are nonconforming.
Operating Expenses
Definition:
The actual cost of operating income - producing property, including utilities and similar day-to-day expenses, taxes, insurance and reserves for the replacement of items that wear out.
Like-Kind Exchanges Real Estate Tax Tips
Section 1031 does not apply to exchanges of inventory, stocks, bonds, notes, other securities or evidence of indebtedness, or certain other assets.
IRS Tax Deferred Exchange
Acquisition of property by an exchange facilitator in connection with a section 1031 tax deferred exchange is subject to the real estate excise tax
Deferred Exchanges Of Like Kind Property
Like-kind property can be a variety of business property, not just real estate; it can be any property held for productive use in a trade or business or for investment.
Did You Know ?
If you plan on utilizing Section 1031, you may do so with more than one property.
You can do so with up to three properties at once.