1031 Answers.com: More News For 1031 Exchange & Tax Advantages Help

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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 Advantages professional. Need Help with 1031 issues ? Then contact us now >

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§ 1031. Exchange of property held for productive use or investment...Read more law >

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One property is not always exchanged for just one other property.

Two or more types of real estate can be exchanged for one replacement type of real estate. Also, one type of real estate can be exchanged for two or more types of real estate.

1031 Related News

Proposed IRS Rule Would Devastate Small Businesses, Hike Costs for Property Investors
Changes to section 1031 of the Internal Revenue Code would give a monopolistic advantage to large financial institutions at the expense of hundreds of small businesses

IRS Tax Deferred Exchange
Acquisition of property by an exchange facilitator in connection with a section 1031 tax deferred exchange is subject to the real estate excise tax

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Terms about 1031

Recapture

Definition:
That portion of the gain from the sale of real estate that is taxed at ordinary income tax rates. Calculated as the difference between the accelerated depreciation taken and the straight-line depreciation that would have been allowed.

Property Tax

Definition:
The amount which the state and/or locality assesses as a tax on a piece of property.

Tax Savings

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.

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More News related to 1031 issues

Like-Kind Exchanges Real Estate Tax Tips
Section 1031 does not apply to exchanges of inventory, stocks, bonds, notes, other securities or evidence of indebtedness, or certain other assets.

IRS Tax Deferred Exchange
Acquisition of property by an exchange facilitator in connection with a section 1031 tax deferred exchange is subject to the real estate excise tax

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.

Did You Know ?
One property is not always exchanged for just one other property. Two or more types of real estate can be exchanged for one replacement type of real estate. Also, one type of real estate can be exchanged for two or more types of real estate.

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