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Under the Tax Cuts and Jobs Act, Section 1031 now applies only to exchanges of real property and not to exchanges of personal or intangible property. An exchange of real property held primarily for sale still does not qualify as a like-kind exchange.
This section explains the tax rules for exchanging real property held for productive use or investment. It covers the nonrecognition of gain or loss, the identification and completion of exchange, the basis adjustment, the application to partnerships, and the special rules for related persons.
Learn how to postpone paying tax on the gain from selling business or investment property by reinvesting in similar property under Section 1031. Find out the rules, regulations, structures, and time limits for qualifying for a like-kind exchange.
17 Αυγ 2024 · Section 1031 is a federal tax provision that allows a business or investment property owner to defer federal taxes on the gains from the sale of property if the proceeds are reinvested in other...
Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), a taxpayer may defer recognition of capital gains and related federal income tax liability on the exchange of certain types of property, a process known as a 1031 exchange.
8 Σεπ 2023 · A 1031 Exchange, also known as a like-kind exchange, is a transaction under U.S. tax law that allows an investor to defer capital gains taxes when they sell a property and reinvest the proceeds in a new, "like-kind" property. It's named after Section 1031 of the U.S. Internal Revenue Code.
Learn about the tax rules and exceptions for exchanging real property held for productive use or investment. Find out how to identify, value, and report the property received in exchange and the gain or loss recognized.
