 Choose the Right Realtor for Your 1031 Exchange What is a 1031 Exchange? For tax purposes, a 1031 exchange is a real estate transaction involving the sale of one property with the tax on the capital gain deferred because of the qualified purchase of another like-kind property in exchange.* For 1031 purposes, like-kind is interpreted as any type of investment property, rather than a property purchased for personal use. The term "1031" exchange derives from Section 1031 of the United States Internal Revenue Code of 1986. Sales proceeds of an investment property may be subject to capital gains tax if the IRS determines there was no valid 1031 exchange. When doing a 1031 exchange, proceeds from a sale of an investment property can only be deposited with a 1031 exchange company. I work with qualified 1031 exchange companies. If you are thinking of selling an investment property, I can give you information on exchanges and sales. *Consult with your CPA, Tax Accountant or Tax Attorney before proceeding with a transaction to be sure a 1031 exchange is in your best interest. With my experience and knowledge, I can help you attain a successful sale, exchange, purchase and close of escrow. |
