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With a booming real estate market for both sales and rentals, many investors seeking to diversify an income stream and find a tax-efficient asset are looking at direct investment into the asset class. Owning, managing and maintaining an investment property has a host of tax benefits, but there’s also one unique treatment they receive when it comes time to sell.
IRC Section 1031, commonly called a “like-kind” or “1031” exchange, provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. These gains are tax-deferred, but not tax-free – but you only pay the tax on the last property that is sold, not “exchanged.”
Creating a real estate portfolio with growth potential that meets investors’ needs can often involve swapping out of assets – just like other forms of investing. The... ...
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