An opportunity to defer taxes can be worthwhile, and if you have a real estate asset outside of your primary residence, you should be aware of a 1031 exchange. A 1031 exchange, also referred to as a like-kind exchange or a Starker exchange, allows the seller of real estate to postpone the payment of capital gains taxes by effectively swapping their current property for one or more properties of equal or greater value.
Some of the topics discussed in our whitepaper on using a 1031 exchange include:
- Situations where it is and is not beneficial to use a 1031 exchange
- The process for completing a 1031 exchange
- Deadlines in a 1031 exchange
- Best practices for hiring a qualified intermediary
- Overview of a Delaware Statutory Trust (DST) 1031 Exchange
- Requirements for reporting a 1031 Exchange to the IRS