1031 Tax Exchange, 5 things you must know.

The 1031 concept itself is simple: Reinvest the proceeds from the sale of a business or investment property into a like-kind investment in order to defer paying capital gains tax. Seems simple enough, right? Well, in reality, 1031 exchanges are much more complex. Section 1031 of the Internal Revenue Code (hence the name) has many nuances that can be confusing.  There are very specific guidelines governing the process. Here’s a brief overview of what you need to know about a typical 1031 exchange process.

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