Tax reform still allows 1031 exchanges to defer gains on real estate sales
Changes to the U.S. tax code spared a popular — and effective — strategy for tax deferral, a 1031 like-kind exchange. Real estate investors will need a strategy to take full advantage of the program.
Many real estate owners seeking to realize their gains following strong growth are fortunate a vital section of the U.S. tax code remains in place after Washington’s latest reworking of tax laws.
Investors are still able to defer the tax gains from the sale of real estate used in a business or held for investment and reinvest the proceeds into another commercial property through a provision of the tax code know as a 1031 like-kind exchange.
Real estate investors will need a strategy to take full advantage of the federal 1031 exchange program.
Read the rest of the article at American City Business Journals.
Are you interested in learning how to leverage a 1031 like-kind exchange? Contact our team to discuss your investment real estate and we’ll help you come up with options to meet your investment goals.For more updates and insights from the Plante Moran REIA team, subscribe to our blog today.