A 1031 exchange is a tax-deferred exchange where a taxpayer sells one or more real estate assets held for productive use in a trade or business or for investment (referred to as the "relinquished ...
This month we will explore the federal income tax consequences of a "like-kind" exchange. The principal advantage of a like-kind exchange is that taxable gain is not triggered at the time of the ...
Kiah Treece is a former attorney, small business owner and personal finance coach with extensive experience in real estate and financing. Her focus is on demystifying debt to help consumers and ...
IRC Section 1031(a) provides that no gain or loss is recognized if property held for productive use in a trade or business or for investment is exchanged solely for property of a “like-kind” to be ...
Selling real estate for more than you paid for it is a good thing, but depending on the amount of your profit, it could trigger a tax liability known as the capital gain tax. However, there are some ...
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What is a 1031 Exchange?
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It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs ...
Like-kind exchange treatment is not elective. Despite this, there are situations where a taxpayer may wish to avoid nonrecognition treatment. If this is the case, in order to avoid application of the ...
Kelly Alton, NES Financial Corp., San Jose, Calif. The capital-intensive nature of companies engaged in oil and gas operations and the liberal rules that determine the like-kind nature of oil and gas ...
Joe Biden, the presumptive Democratic candidate for president, today unveiled a 10-year, $775 billion plan to fund universal childcare and in-home elder care that would be paid for by taxing real ...
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A 1031 exchange, named after Section 1031 of the U.S. Internal Revenue Code, is a strategic tool for deferring tax on capital gains. You can leverage it to sell an investment property and reinvest the ...
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