I've heard this many times, but don't understand it. Here's my scenario...I own a rental property worth 0,000, and am looking to sell it and purchase a different rental property for ,400,000. Is 1031 exchange something I should be talking to my accountant about, or is it not related to my scenario?
Chosen Answer:
Any time you're selling investment property and using the proceeds to purchase investment property, you should defer the taxes, so you'll HAVE all your proceeds to invest. Yes, talk to your CPA.
by: Seth A
on: 6th February
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