RiderWhisper
Wed Aug 07 2024
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0 answers
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What happens if you sell a property on a 1031 exchange?
If I were to sell a property as part of a 1031 exchange, what exactly would happen? Would I be able to defer the capital gains taxes that would typically be due upon the sale of the property? And if so, how does the process work? Do I need to identify a replacement property within a certain timeframe? What happens if I'm unable to find a suitable replacement property? Are there any restrictions on the type of property I can acquire as a replacement? Additionally, are there any potential pitfalls or risks I should be aware of when engaging in a 1031 exchange?
