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ANSWERS: 2
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Internal Revenue Code Section 1031 states: “No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment.” This code provides that capital gains taxes are deferred when investment real estate is exchanged rather than sold. Over the long term, acquiring real estate through exchanges is an excellent method of building wealth. Section 1031 allows continued deferral of taxes on subsequent exchanges, enabling the owner to increase equity without the burden of capital gains tax. http://www.1031taxinfo.com
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Internal Revenue Code Section 1031 states: “No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment.” This code provides that capital gains taxes are deferred when investment real estate is exchanged rather than sold. Over the long term, acquiring real estate through exchanges is an excellent method of building wealth. Section 1031 allows continued deferral of taxes on subsequent exchanges, enabling the owner to increase equity without the burden of capital gains tax. http://www.1031taxinfo.com
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