1031 exchange
If you could sell your property for a gain, the Internal Revenue Code Section 1031 allows you to postpone paying tax on that gain. The requirement: you have to be willing to reinvest the proceeds into a similar property. If you meet all the rules under §1031, this transaction would qualify as a like-kind exchange.…
Read MoreThis is a real thing. See, we defend against IRS challenges to all sorts of transactions. Maybe here, by our explaining some of the IRS rules, we might just help someone avoid an IRS audit. This particular article is about tax-free exchanges. Again, this is a real thing outlined in the Tax Code. What is…
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