What Is a Section 1031 Exchange? The Rules & What You Need to Know
The first thing you need to know is that a Section 1031 exchange isn’t for everyone. By that, I mean there are many situations where doing one just doesn’t make sense. Having said that, let’s take a look at the definition and what it does.
Even though, a 1031 exchange can be very complicated, for many, there are major tax advantages to it. For instance, you may have a parcel of real estate that you want to sell, but in doing so, it will generate a big profit and a big tax bill. In this case, a 1031 exchange might be a good option for you. View full post…