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Showing 1 post tagged Qualified Intermediary.
The Kind of Exchange to Like: Section 1031 Like-Kind Exchanges
Posted In Real Estate Law, Section 1031 transactions
Whenever you sell off a piece of investment property for a gain, you generally pay tax on that gain at the time of the sale. If you then use the post-tax proceeds to purchase another property that you later sell for a gain, you’ve effectively traded one property for another, but you were taxed twice along the way. Luckily, the tax code contains Section 1031, which allows for a tax deferred “exchange” of properties, and it can be a lifesaver for investors. More >
