Why Like-Kind Exchanges Are So Important To The Real Estate Industry
The Internal Revenue Code Section 1031 allows taxpayers to defer capital gains payment and recapture taxes on the sale of property by reinvesting the proceeds in another property equal to or of greater value. It has existed for 100 years, yet many are unfamiliar with the Section 1031, and others are unaware of how important it is for creating jobs and generating tax revenue for the country.
