| 1031 LIKE-KIND EXCHANGE|
|A like-kind exchange refers to a property transfer structured under section 1031 of the Internal Revenue Code. A property owner exchanges his investment property for another investment property. The property owner, selling this property will not pay taxes on capital gain. Instead, the taxpayer defers the federal and state taxes until the time that the next property is sold. |
Please refer to the website below for more information: www.irs.gov/faqs/faq-kw2.html
MY REALTY has a great deal of experience in identifying one or number of properties for satisfying the conditions for 1031 exchange and will lead you through the whole process.