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
Tax Codes
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
Property Exchanges
Property Exchanges
Tax Deferred Exchanges
Facilitators
Tax Advantages
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.
Definition:
The deduction a taxpayer can take on their tax form for interest paid on a home mortgage. The amount of money that the homeowner is not required to pay the government in taxes because he or she owns a home.
Property Tax
Definition:
The amount which the state and/or locality assesses as a tax on a piece of property.
Tax Roll
Definition:
A list containing the descriptions of all parcels in the county, the names of the owners (or those receiving the tax bill), assessed values and tax amounts.
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.