1031 Exchange Explained

1031 Exchange Explained

IRC Section 1031 relates to the disposition of investment property that is held for investment purposes or used in productive business. If performed properly, IRC section 1031 provides an exception to the rule requiring the payment of capital gains tax upon the sale or exchange of investment property. The theory behind IRC section 1031 is to allow the property owner to reinvest the sale proceeds into another investment property, foregoing any economic gains that may have been realized from the sale. If you have recently sold, or are thinking of selling investment investment property, we can assist in matching you with a qualified TIC advisor. A TIC advisor can help you explore your 1031 exchange options. Contact us today for a free consultation.