1031 exchanges (outlined in the Internal Revenue Code) are a way to defer all of your capital gains taxes on the sale of property. Instead of taking the money from the sale, a 1031 allows you to defer those gains by reinvesting the net proceeds into other property, so long as it’s like-kind. So rather than cutting a check to the government when you sell your property, you can keep your money working for you in a continued investment.
Like-Kind 1031 Exchange
This video gives a brief explanation of like-kind property requirements in a 1031 exchange:
If you want to sell your real estate and defer your capital gains taxes, consider the tax benefits of a 1031 exchange. Contact an Iowa 1031 exchange professional today to discuss your situation and maximize your gains –877.373.1031.