Report post

Do real estate investors need a 1031 exchange?

Real estate investors can potentially benefit from a 1031 exchange by deferring their capital gains taxes and reinvesting the proceeds in a like-kind property. However, the IRS does have strict rules and requirements that need to be followed to complete a 1031 exchange.

When does section 1031 apply to a qualifying exchange?

A transition rule in the new law provides that Section 1031 applies to a qualifying exchange of personal or intangible property if the taxpayer disposed of the exchanged property on or before December 31, 2017, or received replacement property on or before that date.

Does a 1031 exchange need a different name?

This might be obvious, but it’s worth noting: in a 1031 exchange, both the property being sold/exchanged and the property being bought need to be purchased by the same party. If the names on the sale property and the exchange property are different, it won’t be accepted. 3. Needs to be investment or business property

The World's Leading Crypto Trading Platform

Get my welcome gifts