The exchange of Like Kind Property is the key to a 1031 Exchange. The IRS states: Properties are of like-kind, if they are of the same nature or character, even if they differ in grade or quality. Personal properties of a like class are like-kind properties. However, livestock of different sexes are not like-kind properties.… Continue reading Like-Kind Property for a 1031 Exchange

*** Disclaimer: this is not tax advice- consult an accountant with specific 1031 Exchange questions! We’re selling NE Ivy St. as an investment property. The price difference of what we bought it for in 2001 and the selling price now would be taxable as a capital gain on our income taxes. The 1031 Exchange allows… Continue reading What is a 1031 Exchange in Real Estate