What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified
Tax Deferred Exchanges
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Deferred Exchanges Of Like Kind Property
Like-kind property can be a variety of business property, not just real estate; it can be any property held for productive use in a trade or business or for investment.
Definition:
The deduction a taxpayer can take on their tax form for interest paid on a home mortgage. The amount of money that the homeowner is not required to pay the government in taxes because he or she owns a home.
Assessor
Definition:
A government official who is responsible for determining the value of a property for the purpose of taxation.
Tax Deed
Definition:
A written document conveying title to property repossessed by the government due to default on tax payments.