What is a 1031 Exchange?

What is an exchange?

What is like-kind property?

What are TIC’s, or fractional ownership programs?

What if more than like-kind property is exchanged in the transaction?

What is fair market value?

What constitutes disposition?

1031 Exchange FAQ

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Section 1031 of the tax code allows a taxpayer to defer the recognition of a gain or loss on the exchange of like-kind property, and thus postpone the payment of tax. Before getting into details about the tax implications of a 1031 exchange, lets discuss the taxes that are due on a typical sale of real estate.

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To qualify for a 1031 exchange and defer tax payment, the transaction must take the form of an exchange rather than a simple purchase.

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The fair market value of property is the price that a willing buyer and willing seller will accept in a transaction.

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Please be advised that any discussion of U.S. tax matters contained within this communication is not intended or written to be used and cannot be used for the purpose of (i) avoiding U.S. tax related penalties or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product. Therefore, we do not represent that this information is complete or accurate and it should not be relied upon as such. All information is subject to change without notice.
   
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