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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 Investing professional. Need Help with 1031 issues ? Then contact us now >
 
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ยง 1031. Exchange of property held for productive use or investment...Read more law >

Related Hot Topics

    • Land Exchange
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    Although not really a technical term, the word "boot" is used frequently in the world of Section 1031.

    Boot is another way of saying a property is not "Like-Kind".

FAQs Questions about 1031 Exchange


Question: What is a non-contractual transfer?

Answer:

A non-contractual transfer is a completed transfer of real estate or of an interest in real estate made as a gift, where no consideration is paid. The transferor must have relinguished control of the real estate or interest in real estate.




Question: What is a non-contractual transfer?

Answer:
A non-contractual transfer is a completed transfer of real estate or of an interest in real estate made as a gift, where no consideration is paid. The transferor must have relinguished control of the real estate or interest in real estate.




Question: Is a transfer into or out of an irrevocable trust taxable?

Answer:
It depends. If the transfer is a gift, it is not taxable. If it is not a gift, the same rules apply as for all other contractual transfers.



Did You Know ?
Although not really a technical term, the word "boot" is used frequently in the world of Section 1031.

Boot is another way of saying a property is not "Like-Kind".

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