1031 Exchange
- May 1, 2025
- 1 min read
Updated: May 6, 2025
A 1031 exchange allows investors to defer capital gains tax on the sale of an investment property by reinvesting the proceeds into another similar property.
Just helped a client who was ready to throw in the towel. Upon reviewing their 1031 Exchange according to the client, this client was owing $77k. Upon further review we found the client had forgotten to report Form 8824. Having a tax accountant can be useful. After we completed the review of their return our tax professionals got the client to a return of $655.
This must be a like-kind exchange involving real estate property, not personal property.
*Ensure compliance with the restrictions and qualifications.
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