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Investor Resource – 1031 Tax Exchange Program
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Given the current real estate market, there are many reasons why real estate investors might be examining their holdings. Opportunities abound. And in order to profit from them, it is critical to know all about Internal Revenue Code Section 1031.
1031 allows real estate owners to defer capital gains tax when exchanging like kind property. Meaning you can sell a real estate property for another piece of property (for example, you can sell a condo and buy a shopping mall or vice versa without incurring capital gains taxes). 1031 allows real estate owners to exchange several properties for one. 1031 allows real estate owners to diversify by exchanging a property in one state for a property in another.
If you are interested in learning more about IRS rule 1031, or buying more investment properties or if you want to liquidate those you have without getting clobbered with capital gains taxes, contact Joe D.
Contact Joe DeLorenzo Broker/Owner of RE/MAX In Town at joe@joedhomes.com or call 609-895-0500 x107.
