What is a 1031 exchange

In Selling Property - Asked by Lee W. - Apr 17, 2010
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Answer(s)

Josh H.
Broker/Agent
San Diego, CA

Interenal Revenue Code 1031, allows an owner of real property to defer capital gains tax on the sell of real estate. Must find like/kind property of eqaul value or greater. Sller has 45days t identify up to three properties, nd 180 days to close escrow. .. all informaton should be reviewed befroe doing 1031...

Apr 18, 2010
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Cyrus S.
Owner/Investor
Viroqua, WI

Its a way to purchase a new property and transfer your equity from the old property to the new.Otherwise you buy new sell the old and transfer any gains you have to the new property and delay paying any capital gain tax.You must designate the new property first.I believe this is correct.

Apr 18, 2010
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Victor N.
Owner/Investor
Orlando, FL

When you bought the property and selling it with the profit, you do not want to pay any taxes by purchsing any other property at the same price or higher than the one you sold.
I hope that will answer your question

Apr 18, 2010
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Brandi L.
Oak Brook, IL

In brief summary, a 1031 exchange is a method of defering capital gains tax when selling an investment property whereby other "like kind" investment property is acquired with the cap gains from the first sale via an intermediary and pursuant to section 1031 of the federal tax code.
Jim Blanchard-Inland Real Estate
jblanchard@inlandgroup.com

Apr 19, 2010
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Ronald R.
Broker/Agent
Chicago, IL

A 1031 tax deferred exchange represents a simple, strategic method for selling one qualifying property and the subsequent acquisition of another qualifying property within a specific time frame. You benefit by reduced capital gains taxes.

Apr 19, 2010
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DeVaughn C.
Broker/Agent
Memphis, TN

Simply put, under Internal Revenue Code Section 1031, an investor can transfer the profit from the sale of an investment property into the purchase of a like-kind investment and no gain on the sale is recognized for federal tax purposes.

Apr 26, 2010
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Jennifer D.
Broker/Agent
Danvers, MA

A while back online I met the best 1031 person to talk to. I know all of the already replied information is good, but Bill Exeter is the single best person I have conversed with who specializes in 1031 exchanges. I would check him out online and email/call him to chat. He is #1 on my list for my next exchange transaction. I will link his website below...
Brian Dapice
Keller Williams Commercial

May 7, 2010
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