ShintoSpirit
Thu Aug 08 2024
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7 answers
1941
Does a 1031 exchange defer taxes?
I'm curious about the tax implications of a 1031 exchange. Specifically, does it allow for the deferral of taxes? If so, how does this process work? Are there any specific requirements or restrictions that need to be met in order to qualify for this tax deferral? Additionally, what are the potential benefits and drawbacks of utilizing a 1031 exchange for tax purposes? I'd appreciate any clarification on these points to help me better understand the mechanics of this type of transaction.
