THE EAGLESTAR FLASH #200 March. 8, 2013
IN TODAY’S EDITION:
- Trades Swaps & Exchanges
Real Estate Exchange (1031 Exchange)
Under Section 1031 of the United States Internal Revenue Code, the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.
Originally, 1031 cases needed to be simultaneous transfers of ownership. But now, a contract to exchange properties in the future is practically the same as a simultaneous transfer.
~To learn more contact the IRS or your tax adviser.
Trades & Swaps
Trading, swapping, bartering, or exchanging properties for other realty or personal property (vehicles, tractors or other farm equipment, etc.). Examples include: luxury house swap, vacant land or acreage trade, vacation home exchange, trade home for RV, rural property barters, country home swaps, farm exchanges, ranch trades, and more.
~Trades & Swaps
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