Residential Search

1031 Exchange


If you own investment property you might want to look into a 1031 tax deferred exchange. This could allow you to defer paying capital gains tax on your gain from the sale of your property by exchanging for another property of "like kind" in the Asheville NC area.
IRS 1031 tax-deferred exchange is a method by which a property owner trades one or more properties for one or more replacement properties of "like-kind", while deferring the payment of taxes. 
When a property owner has reinvested the sale proceeds into another property, the gain has not been realized in a way that generates funds to pay tax. The taxpayer's investment is still basically the same, only the form has changed.
The like-kind exchange is tax-deferred, not tax-free. When the replacement property is ultimately sold, the original deferred gain, plus any additional gain realized since the purchase of the replacement property, is subject to tax.

A quick overview:

Quick Contact

Auto Search