Section of the IRS code that allows the deferral of capital gains tax on the exchange of "like kind" real estate properties.
A section of the IRS Code that deals with tax free exchanges of certain property.
This section of the Internal Revenue Code deals with tax-deferred exchanges of certain property. General rules for tax-deferred exchange of real estate state that the properties must be like-kind property (real estate for real estate), exchanged and held for use in a trade or business or held as an investment.
A provision of the Internal Revenue Code that allows owners of investment property to "exchange" a property for other "like-kind" property and to defer any capital gains into the acquired property. Also called a "1031 Exchange" or a "Starker Exchange."
Internal Revenue Code Permits exchanges of like kinds of property as a method to postpone paying income taxes on some capital gains.
A provision in the tax law that you might want to keep in mind. No gain or loss is recognized (taxed) if business and or investment property is traded for qualified like-kind property that is also used in a business or held for investment. In short, if you arrange the proper kind of trade, you avoid income tax until the property you traded for is later disposed of. This is often referred to as a tax-deferred exchange, or less accurately as a tax-free exchange.
A section of the U.S. Internal Revenue Service Code that allows deferment of capital gains taxes on any exchange of like-kind properties for business or investment purposes. Taxes on capital gains are not charged upon sale of a property as the money is being used to purchase another property - the payment of tax is deferred until property is sold with no re-investment.
The section of the IRS that deals with tax free exchanges of certain property. General rules for tax free exchanges are : The properties must be exchanged, similar, used for business or as an investment.