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1031 |
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1031
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| 1031 Exchange Advantage, a leading real estate transaction
accommodator, has formed a working partnership with Prudential Douglas
Elliman, New York's largest real estate company, to help investors
buy, sell and get cash out of property without paying taxes, no matter
how large their gains. The young DeWitt, Iowa, farmer has
been trying to buy farmland for more than two years, only to be
continuously outbid by investors using the 1031 exchange, a provision of
the federal tax code that helps sellers avoid paying capital gains
taxes. This type of transaction, known as a Section 1031 tax-deferred
exchange, allows taxpayers to trade like-kind properties without the
immediate capital gains tax consequence an outright sale would trigger. |
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