July 12, 2017 Posted by: Iulia Zecheru
1031 Exchange A 1031 Exchange is when you sell a property and buy another “like-kind” property within a certain period of time following specific rules. A 1031 tax exchange provides exceptions and tax deferments for like-kind exchanges, which refer to the process of swapping one business or investment asset for another. Basic requirements: 1. Property qualifications – The property is for productive use in trade or business or for investment; – It needs to be “like kind” property (for example, a condo can be exchanged for a single-family home) – […]
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