Elements of 1031 Exchanges
- Presenter(s): Randy Templeman
- Session Length: 60 minutes
- Date: Dec 5, 2023
When real estate investment property is sold and there is a gain, generally a tax must be paid on the gain at the time of sale. IRC Section 1031 provides an exception and allows a postponement of the tax on the gain if the proceeds are reinvested in similar property as part of a qualifying like-kind exchange. Licensees familiar with this tax code provision can advise consumers of this option, allowing them to take advantage of the provisions should they qualify and determine it to be appropriate.
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