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To accomplish a Section 1031 exchange, there must be an exchange of properties. The simplest type of Section 1031 exchange is a simultaneous swap of one property for another. Deferred exchanges are more complex but allow flexibility. They allow you to dispose of property and subsequently acquire one or more other like-kind replacement properties.
Feb 28, 2024 · A 1031 exchange, named after section 1031 of the U.S. Internal Revenue Code, is a way to postpone capital gains tax on the sale of a business or...
Under the Tax Cuts and Jobs Act, Section 1031 now applies only to exchanges of real property and not to exchanges of personal or intangible property. An exchange of real property held primarily for sale still does not qualify as a like-kind exchange.
Feb 7, 2024 · What are the IRS rules for a 1031 exchange? These are the rules for a 1031 exchange at a glance: Needs to be like-kind property; Must be the same taxpayer; Needs to be investment or business property; Property must be of equal or greater value; Must follow the 1031 exchange timeline; How long do you have to hold a 1031 exchange property?
Feb 23, 2024 · Under Section 1031, if you exchange business or investment property solely for a business or investment property of a like-kind, no gain or loss is recognized until the...
Aug 29, 2022 · Rules for Using Section 1031. Section 1031 defers tax on swaps of like-kind real estate done in a timely manner. There are a number of important steps to a properly...
Feb 19, 2021 · Money. Home. A Guide to 1031 Exchanges. A 1031 exchange can help you defer capital gains taxes on investment property, but the rules are complicated. By Kimberly Lankford. |. Feb. 19,...
