The real-estate investor, consultant, and author of "30-Day Stay" explained how and why she did a 1031 exchange.
How a 1031 exchange worksWith a 1031 exchange, you're essentially selling one property, purchasing another, and avoiding capital gains taxes in the process.
There are ways to reduce your capital gains tax liability, like deducting your property's depreciation.
But, with a 1031 exchange, you can sidestep your capital gains taxes indefinitely and continue reinvesting in more profitable properties and growing your wealth.
However, real property in the United States is not like-kind to real property outside the United States."
Persons:
—, Zeona McIntyre, McIntyre, St . Louis, Louis —, you'll, There's
Organizations:
Service, Business, IRS
Locations:
Boulder, St ., St, Florida, United States