I just helped a client complete a 1031 exchange and thought it would be helpful to explain a little bit more about the process. As always, I am not a financial advisor, so please seek
What is a 1031 exchange?
Dated: February 5 2021
I just helped a client complete a 1031 exchange and thought it would be helpful to explain a little bit more about the process. As always, I am not a financial advisor, so please seek financial guidance if you are interested in further details.
In real estate, a 1031 exchange is a swap of one investment property for another that allows capital gains taxes to be deferred. The term, which gets its name from IRS code Section 1031. IRS Section 1031 has many moving parts that real estate investors must understand before attempting its use. An exchange can only be made with like-kind properties and IRS rules limit use with vacation properties. There are also tax implications and time frames that may be problematic. Still, if you're considering a 1031—or are just curious—here is what you should know about the rules.
Jeanine is a Chicago native and a 7 year resident of Peachtree Corners, GA. Jeanine and her family moved to Peachtree Corners in 2013 for her promotion with an Animal Health Pharmaceutical Company in....
Latest Blog Posts
Property tax bills for the majority of metro-Atlanta counties have been issuedDo I pay the tax bill or does my Lender? If you were a cash Buyer or a Buyer who did not escrow taxes with your
This amazing 4 sided brick home in Peachtree Corners is UNDER CONTRACT!! Only 4 days on the market and 9 offers received, we are officially out of the due diligence period!Here is a little bit