Personal CDsHow does a 1031 exchange work?
Under Section 1031 of the Internal Revenue Code, owners of investment property can sell their real property and defer capital gains taxes on the sale proceeds by purchasing a “like-kind” real property through a Qualified Intermediary within 180 days of the original sale.
In order to complete a like-kind exchange, you will need a Qualified Intermediary to hold the sale proceeds from the time you sell your property until the time you purchase a replacement property. 1
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