What Is A 1031 Exchange And How Can It Help Me?
Before you sell any investment property - it’s important to know about the money-saving value of a 1031 tax exchange.
A: IRC Section 1031 provides that neither gain nor loss is recognized if property held for investment or productive use in a trade or business is exchanged for property held for investment or productive use in a trade or business.
What that means is when you are ready to sell an investment property, you can use the gain on it to re-invest in “like kind” property(s) without being taxed on the gain if you use a qualified intermediary and follow the 1031 rules.
