The 1031 Tax-Free Exchange

A 1031 exchange refers to the section of the internal revenue code section that allows property owners to take the proceeds of a sale of real estate and reinvest those same proceeds into another property without recognizing a capital gain and without having to pay the taxes on the same. Instead, they get to defer the gains and add them to the new property.

Today, Bruce walks you through the 1031 process.  It's for use on income properties (usiually not your primary residence), and it functions similarly to an IRA rollover, but in the real estate realm.

With the recent rise in property values, a 1031 exchange might be a useful tool for many of our listeners, but it's certainly not for everyone.

For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/

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