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
Real Property
professional.
Need Help with
1031
issues ?Then contact us now >
ยง 1031. Exchange of property held for productive use or investment...Read more law >
Related Hot Topics
Like-Kind Exchanges
The Internal Revenue Code
Tax Redemption
Capital Gains
Facilitators
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
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
Definition:
Assessed valuation of real property, which is multiplied by the tax rate to determine the amount of tax due.
Negative Amortization
Definition:
A situation in which a borrower is paying less interest than what is actually being charged for a mortgage loan. The unpaid interest is added to the loan's principal. The borrower may end up owing more than the original amount of the mortgage.
Assessor
Definition:
A government official who is responsible for determining the value of a property for the purpose of taxation.
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.