1031 Exchange Explained
Feb 18, 2024 ·
9m 3s
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Description
The 1031 Exchange enables a taxpayer to defer capital gains tax on the sale of real property held for business or investment by exchanging that property for a like-kind replacement...
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The 1031 Exchange enables a taxpayer to defer capital gains tax on the sale of real property held for business or investment by exchanging that property for a like-kind replacement property. After addressing the capital gains tax benefits, this video demystifies the vocabulary and the requirements of a 1031 Exchange. What is an exchange accommodator?What is a like-kind property? What is taxable boot? Who counts as the same taxpayer when selling a relinquished property to purchase a replacement property? What is the timeline for a 1031 Exchange? This video answers all these questions and more.
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Author | WCAT Radio |
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