A 1031 exchange is a powerful tool that allows an individual to save on taxes after the sale of a piece of real estate. Doing so allows the investor to keep more money in their pocket, and defer all capital gains taxes. However, the IRS has set forth stringent rules about how a 1031 exchange must be conducted.
On this episode, Leonard Spoto from Asset Exchange Company is back to share the four basic guidelines of a 1031 exchange, and why this program is so beneficial for real estate investors. We’ll outline the basics of how to qualify, as well as the crucial steps involved in a successful 1031 exchange. Don't miss episode 350 of Investing in Real Estate!