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1031 Exchange Explained

1031 Exchange Explained

It is the IRS approved method that enables you to sell your rental property rental property and reinvest in another rental property or rental properties, deferring all federal (and most state) capital gains taxes. This transaction is authorized by internal revenue code and is one of the best options for property investors to rollover their investment rental properties while preserving as much wealth as possible. By deferring any applicable taxes, the property investor has more money available to invest in other rental property. In effect, you receive an interest free loan from the federal government in the amount you would have paid in taxes.

When combined with a 1031 exchange, tenant in common rental properties can be even more attractive. 1031 Exchanges allow you to defer capital gains taxes by investing in a like rental property. When using tenant in common rental properties with a 1031 exchange, you can defer capital gains while diversifying your investments. You can purchase shares of various tenant in common rental properties in different locales with the proceeds of the 1031 sale.

If you are considering the sale of an investment rental property, contact a specialist today to discuss your 1031 exchange options.

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