A 1031 tax exchange is named for part of the IRS tax code. A 1031 exchangeA 1031 Exchange is a means used by investors to defer the payment of federal income taxes. The owner of an investment property will sell that property, deposit the funds with an intermediary company, later buy a replacement like kind property and defer the payment of all federal income taxes. There are many rules that apply to these type of exchanges. allows you to defer paying taxes on investment property including real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements., artwork, helicopters, copyrights, patents and more. You cannot do a 1031 exchange on personal propertyPersonal Property is Moveable property, such as appliances, furniture, clothing, and artwork.. This video gives you basic information about a 1031 exchange. For more information, check out our other 1031 exchange videos.
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