I went to our local Norfolk WIRE ( women in real estate) last week and the meetings speaker was on 1031 Tax Exchange.
A 1031 Tax Exchange is when you exchange one investment property for another with tax-deferred benefits. By doing a 1031 Tax Exchange you can receive tax benefits through deferred captial gains and accumulated depreciation recapture. Your funds from the sale of the investment property are wired and held in a seperate account managed by a third party. You then have 45 days to identify the property you wish to purchase and then have 180 days to (3 comments)