Real Estate Tax Free Exchanges – Section 1031

Real Estate Tax Free Exchanges

If you own investment property. There is a very popular alternative to just selling the property and paying the taxes due. This is called a 1031 exchange. The 1031 is referring to the section of the tax code that deals with these types of exchanges. Now, I should say that being a real estate broker, I am not allowed to advise clients on legal or tax matters concerning the sale of any real estate. But, what I am allowed to advise is that if you own investment type property rather than do an outright sale, it would probably be well worth the consultation fee to first talk with your certified public accountant and or legal advisor as to whether or not a 1031 tax-free exchange would it be appropriate in your particular circumstance. Read more